Question
The demand of Brazilian coffee is estimated using the price of Brazilian coffee, the price of tea, and disposable income.We are especially interested in understanding
The demand of Brazilian coffee is estimated using the price of Brazilian coffee, the price of tea, and disposable income.We are especially interested in understanding how the price of Brazilian coffee affects the demand of Brazilian coffee.Should we keep the equation as it is or should we change it?Please explain.
The price of a house is estimated using the age of the house, the size of the house, the quality of the neighborhood, the number of bedrooms, and the size of the yard.We are especially interested in understanding how the number of bedrooms affects the home price.Should we keep the equation as it is or should we change it?Please explain.
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