=+b) What does the coefficient of Traps mean in this model? Does it predict that licensing more

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=+b) What does the coefficient of Traps mean in this model? Does it predict that licensing more traps would cause an increase in the price of lobster? Suggest some alternative explanations.

M16_SHAR8696_03_SE_C16.indd 579 14/07/14 7:38 AM 580 CHAPTER 16 Understanding Residuals

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