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D Question 21 For the following regression result Intercept Rainfall in inches Incremental $ spent on advertising compared with the same-month of last year (in
D Question 21 For the following regression result Intercept Rainfall in inches Incremental $ spent on advertising compared with the same-month of last year (in thousands) Coefficients -6.082475916 6.499775966 7.075252827 Standard Error t Stat P-value Lower 95% Upper 95% 6.650790563 -0.91455 0.3842757378 -21.127609 8.96265759 0.836924219 7.766266 0.0000280296 4.6065218 8.39303008 What does the beta for rainfall in inches tell you? 2.496617964 2.833935 0.0195961527 1.4275106 2.63 pts O For every 1 inch increase in rainfall 6.499 (x 1000) umbrellas will be sold O For every 417 (i.e., 6.499 - 6.082) inches increase in rainfall 1 (x 1000) umbrellas will be sold. O For every 6.4999 inch increase in rainfall 1 (x 1000) umbrellas will be sold 12.722995
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