Hi guys I have a statistical question to an analyse I ran in R. It is a dummy variable model with the 5 regions of Denmark as 4 independent dummy variables and price as the dependent variable:
price = 10.325 - 0.176*Sjaeland - 0.368 * NJylland - 0.230*MJylland - 0.120* Syddanmark I understand the R^2 = 0.7348 - that it shows the explanatory force of the model (between 0 and 1) My question is simply how to interpret the standard error = 0.7348 on 342199 degrees of freedom? How is it calculated when the model is a dummy variable model. And what does it mean that the F-statistic says that there are 1894 on 4 and 342199 DF (degrees if freedom?) with a p-value < 0? I have been searching for hours - and can't quite figure out how R reached the numbers and how to interpret the output of standard error and the p-value of the dummy model. I really hope you can help :) Best Livia
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