In the table, you have 25 comparable companies along with information on P/E ratio, expected growth in EPS, regression beta, and payout ratio. Assuming that P/E is modeled as a linear function of the three latter variables and using regression estimates based on the data,

What is the coefficient estimate on payout ratio?

Company Identifier P/E 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Expected Growth Regression Beta Payout Ratio 7.8 0.06 1.1 0.55 8.9 0.075 1.5 0.7 11.2 0.11 0.65 0.45 12.5 0.08 1.2 0.65 12.8 0.12 1.54 0.6 16.6 0.08 1.5 0.5 18.3 0.11 0.81 0.55 19.6 0.16 0.75 0.4 20.8 0.13 1.64 0.6 21.1 0.14 0.75 0.55 21.5 0.22 1.8 0.25 21.7 0.12 1.1 0.35 22.7 0.31 1.2 0.6 24.6 0.11 1.9 0.45 25.7 0.07 0.87 0.35 27 0.09 1.4 0.4 28.4 0.32 3.2 0.4 29.8 0.14 0.95 0.4 31 0.33 1.7 0.5 32.5 0.18 2.4 0.25 35.7 0.13 1.1 0.4 42.2 0.14 1.8 0.25 44.3 0.2 2.7 0.2 45.2 0.19 1.2 0.35 71.3 0.44 2.1 0.2 15 16 17 18 19 20 21 22 23 24 25 Company Identifier P/E 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Expected Growth Regression Beta Payout Ratio 7.8 0.06 1.1 0.55 8.9 0.075 1.5 0.7 11.2 0.11 0.65 0.45 12.5 0.08 1.2 0.65 12.8 0.12 1.54 0.6 16.6 0.08 1.5 0.5 18.3 0.11 0.81 0.55 19.6 0.16 0.75 0.4 20.8 0.13 1.64 0.6 21.1 0.14 0.75 0.55 21.5 0.22 1.8 0.25 21.7 0.12 1.1 0.35 22.7 0.31 1.2 0.6 24.6 0.11 1.9 0.45 25.7 0.07 0.87 0.35 27 0.09 1.4 0.4 28.4 0.32 3.2 0.4 29.8 0.14 0.95 0.4 31 0.33 1.7 0.5 32.5 0.18 2.4 0.25 35.7 0.13 1.1 0.4 42.2 0.14 1.8 0.25 44.3 0.2 2.7 0.2 45.2 0.19 1.2 0.35 71.3 0.44 2.1 0.2 15 16 17 18 19 20 21 22 23 24 25