Question
Imagine you have weekly (t) sales data for each of your stores (s). In addition, you have the average weekly price of your brand for
Imagine you have weekly (t) sales data for each of your stores (s). In addition, you have the average weekly price of your brand for each store. You estimate the following model: ln(unitsalesst)=0+1ln(pricest)+2SuperBowlln(unitsalesst)=0+1ln(pricest)+2SuperBowl where the variable SuperBowl takes the value 1 if it is the week of the Super Bowl or zero otherwise. If the parameter estimate for 22 was .36 with a p-value<.05, which of the following can be said?
Group of answer choices
predicted sales during Super Bowl week are 36% higher
predicted sales during Super Bowl week are .36% higher
predicted sales during Super Bowl week are 43% higher
in this model Super Bowl week shifts the demand curve out by a constant number of units
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