7:05 Done LESSON 2 ASSIGNMENT_ A $7.DU TO $6.50, The estimated quantITY demanded of COTTees would A) increase by 15.25 B) decrease by 15.25 C) not change D) exactly double SUMMARY OUTPUT Regression Statistics R Square 0.96 Adjusted R Square 0.95 Standard Error 3.3 Observations 35 Coefficie Standard Lower Upper nts Error + Stat P-value 95% 95% Intercept 170.03 3.19 163.53 176.54 Price -22.48 0.74 -24.01 -20.96 18) Using Excel, the manager of Ibis Coffee has estimated the daily demand function for its regular coffees: the results are shown in the table above. Which of the following statements s correct? A) The manager can be 95 percent confident that the true slope coefficient for price is equal to zero. B) The manager can be 95 percent confident that the true slope coefficient for price lies between -24.01 and -20.96. C) The manager can be 95 percent confident that the true slope coefficient for price is greater than -24.01. D) The manager can be 95 percent confident that the true slope coefficient for price lies between 163.53 and 176.54. SUMMARY OUTPUT Regression Statistics Multiple R 0.98 R Square 0.96 Adjusted R Square 0.95 Standard Error 3.3 Observations 35 Coefficie Standard Lower Upper nts Error t Stat P-value 95% 95% Intercept 170.03 3.19 163.53 176.54 Price -22.48 0.74 -24.01 -20.96 19) Using Excel, the manager of Quick Breaks Coffees has estimated the daily demand function for its regular coffees; the results are shown in the table above. The t-statistic for the slope coefficient on price is which, at the 95% percent significance level, will suggest that the price is A) 53.16; significant. B) 53.16 : insignificant. C) -30.11 ; insignificant. D) -30.11 : significant. 20) If Excel estimates the demand function for a product to be: Qd = 1,500 - (5 x P), the estimated regression equation indicates that the Law of Demand does not hold