Question
a linear regression model used to estimate the demand function for coca cola for 60 person yielded the following result Qd= 10425-2910px+.028A+11100pop SE (1010)(.004)(3542) R
a linear regression model used to estimate the demand function for coca cola for 60 person yielded the following result
Qd= 10425-2910px+.028A+11100pop
SE (1010)(.004)(3542)
R sequare = .7
Where QD = quantity demand of coca cola px = price of cola A = advertizing in dollar pop = percantage of paLESTINE POPULATION OVER 15 YEAR
1- DETERMINE THE POINT PRICE ELASTICITY AND ADVERTISING FOR PRICE OF 5 $ WHEN a= 1000000 AND POP = .05
2- WHAT IS THE CHANGE IN qD RESULTS FROM 5000 $ INCREASE IN ADVERTISING
3- WHT IS THE PERCENT CHANGE IN qd RESULT FROM 2% INCREASE IN POP ?
4- TEST IF THERE SIGNIFICANT RELATIONSHIP BETWEEN EACH INDEPENDENT VARIABLE and QD at alpha = .05
5- test the goodness of fit ( the overall level of significant at alpha = .05
what is the interpretation of R sequare
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