Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Assistance with how to solve this question showing all steps please Question 5 What is the value of Quantity Demanded of Heating Oil if: Income

Assistance with how to solve this question showing all steps please

image text in transcribedimage text in transcribed
Question 5 What is the value of Quantity Demanded of Heating Oil if: Income = $22 and Price=$100 Complete Mark 1.00 out of 1.00 -2.105 + 4.075*income - 0.578*price P Flag question -2.105+89.65-57.8 Select one: O a. 57.8 O b. 29.745 O c. -2.105 O d. 89.65Quantity Demanded of Heating Oil Income Per Household Price of Heating Oil SUMMARY OUTPUT 7.1 9 50 5.7 Regression Statistics 10 50 10.3 Multiple R 0.917239 11.8 10 R Square 0.841327 11.9 11 50 Adjusted R Square 0.826216 13.9 11 Standard Error 1.972013 5.7 11 60 Observations 24 6.6 11 11.5 12 60 ANOVA F 12.6 12 60 df SS MS Significance F 16.8 13 60 Regression 2 433.0141 216.507 55.67403463 4.0297E-09 14.4 13 60 Residual 21 81.6655 3.888833 13.2 13 70 Total 23 514.6796 9.7 13 70 16 14 70 Coefficients andard Errt t Stat P-value Lower 95% Upper 95% ower 95.0%/pper 95.0% 9.3 14 70 Intercept -2.105 2.374618 -0.88646 0.385409797 -7.0432875 2.833287 -7.04329 2.833287 19 15 70 Income Per Household 4.075 0.493003 8.265668 4.85848E-08 3.04974387 5.100256 3.049744 5.100256 21.5 15 70 Price of Heating Oil -0.57883 0.104968 -5.51436 1.79846E-05 -0.797127 7 -0.36054 -0.79713 -0.36054 11.3 15 80 15.6 15 80 15.6 16 80 15.8 16 80 21.7 17 80 20.9 17 80 Quantity Demanded of Heating Oil is the dependent variable

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Entrepreneurship

Authors: Andrew Zacharakis, William D Bygrave

5th Edition

1119563097, 9781119563099

Students also viewed these Economics questions