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Suppose we would like to estimate the monthly Profit for a specific small business. The dependent variable Profit, which is measured in dollars. We will
Suppose we would like to estimate the monthly Profit for a specific small business. The dependent variable Profit, which is measured in dollars. We will use the independent variables: Investment (measured in dollars) Category (1, 2, 3, 4) Suppose we use the command in R: lm(Profit ~ Investment + Season, data=BronlynsExamData) The coefficients table from the model is given below: Variable Estimate of coefficient p-value (intercept) 2,000 Less than 0.0001 Investment 2.5 Less than 0.0001 Category1 3,000 Less than 0.0001 Category2 5,000 Less than 0.0001 Category3 7,000 Less than 0.0001 For a month where the Investment is $500, the predicted revenue in Cetegory1 equals $_______
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