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The demand function for roses was estimated using the following regression. Based on the results, what happens if Disposable Income (M) increases by 1 unit?
The demand function for roses was estimated using the following regression. Based on the results, what happens if Disposable Income (M) increases by 1 unit? Coefficient Standard Error t-stat p-value Intercept 1664.46 62.13 26.79 0.000 Price of Roses -6.68 3.24 -2.06 0.043 Disposable Income (M) 9.73 0.34 28.62 0.000 Group of answer choices The demand curve shifts to the right by 9.73 units. The coefficient on M is statistically insignificant so we cannot draw any meaningful conclusion. The demand curve shifts to the left by 6.68 units. We move up the demand curve by 28.62 units. We move down the demand curve by 9.73 units
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