Question
The following model for marketing expense, sales revenue, and price (all in dollars) has an R-squared value of 0.87 with p < 0.0001 while level
The following model for marketing expense, sales revenue, and price (all in dollars) has an R-squared value of 0.87 with p < 0.0001 while level of significance is 0.01. The SNR (signal-to-noise ratio) of each variable is approximately the same.
Sales_Revenue = 200000 - 0.08* Marketing_Expense - 0.20 * Price
Which of the following statements is correct?
Group of answer choices
Changes to price causes a larger impact on sales revenue than marketing expense.
Both price and marketing expense cause the same impact because their SNRs are the same.
Changes to price causes a lesser impact on sales revenue than marketing expense.
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