Hi I have a question concerning R, statistics, regression and Summary(lm(....))
When using R and the summary(lm(..)) function I get an output like that:
I pretty much know what each of the numbers means but it is not clear for me what the estimate and std Error are calculated from.
When I plot a plot like that
I have 32 (x/y)-Datapoints. Now I fit a linear model and get a beta0 as well as an beta1. What exactly are beta0 and beta1 calculated from ?
- the residuals ? ( do I get 32 distances from where I calculate the estimate+ StdError ?)
- the slope ? ( do I get the first point, fit a line through this point-> get one beta1, take the second point and fit a line through these 2 pts -> get another beta1,... Then I take the Estimate + StdError of 32 beta1`s ?)