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2. Company, a price-setting firm: produces nearly 80 percent of all tennis balls purchased in the United States. estimates the U.S. demand for its
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2. Company, a price-setting firm: produces nearly 80 percent of all tennis balls purchased in the United States. estimates the U.S. demand for its tennis balls by using the following linear specification Q a+U+gM+d& ivhere Q is the number of cans of tennis balls sold quarterly: P is the wholesale price charges for a can of tennis balls: Mis the consumers' average household income: and PR is the average price of tennis rackets. The regression results are as follows DEPENDENT VARIABTF-Q R-SQUARE F-RATIO 2875 OBSERVATIONS. 20 VARIABLE INTERCEPT p 0 8435 PARAIMETER ESTIMATE 425120 0 -37260 6 1 49 -1456 0 STANDARD ERROR 220330 0 12587 0 3651 460 T-R-ATIO 1 93 -22.96 4 08 -3_16 P-VALUE ON F 0001 P - VALUE 0 0716 0 0093 0 0009 0 0060
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