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The following table shows the price (X) and quantity demanded (Y) for Buta tablet soap in five (5) shops in the hypothetical town of
The following table shows the price (X) and quantity demanded (Y) for Buta tablet soap in five (5) shops in the hypothetical town of BagD. Shop 1 2 3 4 5 X 6 2 10 4 8 Y 9 11 5 8 7 Using the data in the table above: Estimate the demand function; Y = Bo + BX + u. Write your estimated regression [7 marks]. b. Interpret the slope coefficients you have obtained in a.[2 marks] c. Calculate the coefficient of determination (r) and interpret it. [3 marks] d. Calculate the standard error of the slope coefficient [3 marks]
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ANSWER a Y Bo BX u b The slope coefficients indicate that an increase in price results in a decrease ...
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Management Science The Art Of Modeling With Spreadsheets
Authors: Stephen G. Powell, Kenneth R. Baker
4th Edition
978-1118517376, 9781118800348, 1118517377, 1118800346, 978-1118582695
