***there are three excel columns written out below: sales Per Capita, Advertising Exp per Capita, and avg local income. Just need to copy/paste

The data in the file attached contains information on your firm's sales per capita, advertising expenditure per capita, and average local income.

Regress sales per capita on advertising expenditure per capita, controlling for local income as an interval variable, where intervals are <$35,000, $35,000-$44,999, $45,000-$54,999, and $55,000+, and <$35,000 is the base group.

For the remainder of the question, assume the data-generating process is

SalesperCapita_i= + ₁AdExpperCapita_i+ ₂Inc35-45_i+ ₃Inc45-55_i+ ₄Inc55_i+ U_iand that all other necessary assumptions toward establishing causality and performing inference hold.

1. Interpret the coefficients for the income intervals from your regression.
2. According to this regression, what is the effect on sales per capita when average local income increases from $35,000$44,999 to $55,000+?

Sales per Capita.

$10.73

$15.56

$12.53

$14.38

$12.75

$15.04

$14.07

$15.20

$12.68

$13.64

$15.93

$13.81

$10.84

$14.41

$11.97

$14.39

$14.48

$14.64

$12.94

$12.04

$13.97

$15.22

$12.78

$13.89

$11.25

$13.31

$12.81

$12.78

$13.46

$12.96

$12.74

$13.07

$14.89

$14.26

$14.39

$13.63

$15.26

$12.68

$13.11

$15.47

$12.77

$14.47

$12.54

$13.82

$14.61

$13.60

$12.81

$14.50

$13.69

$13.47

$13.15

$13.87

$16.89

$12.23

$12.11

$10.79

$12.17

$15.86

$14.97

$12.15

$13.06

$13.89

$12.76

$13.88

$14.64

$14.72

$11.57

$12.31

$13.35

$15.75

$10.62

$13.93

$14.78

$13.91

$13.58

$13.40

$11.46

$11.11

$13.79

$14.82

$13.77

$12.47

$12.10

$13.23

$10.24

$13.77

$13.66

$15.48

$14.09

$12.30

$13.68

$14.60

$13.40

$12.20

$13.04

$14.40

$14.99

$16.38

$13.23

$13.50

$12.54

$13.38

$12.84

$12.66

$12.98

$12.39

$11.68

$14.21

$13.87

$14.38

$14.28

$13.54

$14.76

$15.47

$12.02

$12.69

$13.77

$14.75

$13.97

$13.75

$11.86

$14.45

$11.63

$13.19

$12.28

$15.56

$13.03

$9.91

$13.67

$16.18

$16.35

$13.29

$12.35

$12.55

$13.84

$12.63

$15.15

$14.70

$13.84

$12.91

$13.10

$14.52

$15.09

$12.58

$13.05

$12.75

$14.30

$12.36

$14.99

$13.91

$12.63

$12.78

$12.09

$15.33

$13.08

$11.80

$13.03

$13.62

$11.30

$14.82

$14.37

$13.57

$13.26

$13.01

$13.34

$16.12

$12.08

$12.19

$14.85

$12.66

$13.97

$13.42

$11.82

$15.62

$14.33

$12.28

$12.74

$14.81

$12.32

$11.73

$13.19

$12.17

$11.49

$12.75

$15.23

$16.74

$13.72

$13.55

$11.89

$14.86

$14.41

$12.14

$12.72

$13.33

$14.47

$14.13

$15.51

$12.97

$12.24

$11.89

$13.19

$13.90

$14.89

$15.31

$13.43

$12.93

$14.99

$14.09

$14.50

$13.72

$12.06

$12.18

$12.03

$14.04

$12.11

$12.21

$13.37

$13.71

$10.99

$13.68

$12.09

$13.32

$11.74

$12.30

$11.38

$13.12

$12.65

$16.15

$12.82

$13.97

$12.08

$13.38

$15.13

$16.14

$11.06

$11.24

$11.82

$11.72

Advertising Exp per Capita

$1.25

$1.52

$1.22

$1.45

$1.58

$1.16

$1.33

$1.05

$1.63

$1.36

$1.62

$1.28

$1.30

$1.46

$1.07

$1.24

$1.50

$1.59

$1.12

$0.87

$1.30

$1.06

$1.23

$1.50

$1.28

$1.14

$1.60

$1.49

$1.20

$1.64

$1.30

$1.42

$1.62

$1.17

$1.75

$1.64

$1.05

$1.13

$1.43

$1.27

$1.25

$1.51

$1.22

$1.58

$1.69

$1.35

$1.08

$1.25

$1.45

$1.28

$1.55

$1.37

$1.36

$1.06

$1.33

$0.74

$1.63

$1.34

$1.34

$1.20

$1.24

$1.85

$1.14

$1.29

$1.42

$0.95

$1.30

$1.18

$1.10

$1.37

$1.16

$1.53

$1.45

$1.40

$1.27

$1.15

$1.31

$1.29

$1.71

$1.33

$1.45

$1.61

$1.16

$1.36

$1.63

$1.51

$1.29

$1.45

$1.56

$1.28

$1.26

$1.29

$1.21

$1.23

$1.60

$1.41

$1.34

$1.50

$1.06

$1.34

$1.53

$1.74

$1.27

$1.24

$1.35

$1.38

$1.34

$1.24

$1.46

$1.61

$1.25

$1.66

$1.43

$1.94

$1.60

$1.11

$1.72

$1.31

$1.15

$1.14

$1.40

$1.32

$1.36

$0.91

$1.38

$1.16

$1.47

$1.80

$1.87

$1.93

$1.52

$1.80

$1.42

$1.34

$1.61

$1.33

$1.30

$1.44

$1.75

$1.50

$1.72

$1.05

$1.53

$0.89

$1.30

$0.88

$1.56

$1.57

$1.17

$1.23

$1.10

$1.26

$1.36

$1.19

$1.39

$1.43

$1.64

$1.13

$1.36

$1.33

$1.41

$1.42

$1.63

$1.64

$1.65

$1.46

$1.12

$0.94

$1.98

$1.13

$1.46

$1.77

$1.23

$1.56

$1.82

$1.23

$1.21

$1.62

$0.92

$1.03

$1.59

$1.29

$1.24

$1.63

$1.17

$1.42

$1.57

$1.19

$1.19

$1.22

$1.60

$1.03

$1.64

$1.71

$1.51

$1.35

$1.54

$1.37

$1.73

$1.22

$1.66

$1.66

$1.46

$1.61

$1.50

$1.76

$1.55

$1.25

$1.67

$1.34

$1.38

$1.68

$1.02

$1.22

$1.04

$1.29

$1.26

$1.11

$1.17

$1.31

$1.51

$1.59

$1.07

$1.33

$1.04

$1.21

$1.26

$1.43

$1.25

$1.47

$1.29

$0.89

$1.57

$1.17

$1.25

$1.49

$0.83

$1.50

Avg Local Income

30804

50680

31505

59859

65718

60858

63615

28837

62017

36390

63832

48103

34481

40696

41557

61420

48545

47667

57337

34193

46357

47852

31231

48835

46633

39840

55716

53759

42530

40563

40666

37347

62629

43950

64078

64529

60653

48035

49344

61743

63889

66324

41761

48928

51361

39107

51459

31477

62890

33064

64898

32467

37500

35976

54959

31827

60099

39278

65539

32186

30298

63625

36260

29989

43425

30718

45633

38221

28282

39117

28069

60407

44165

29470

63947

33369

31069

36320

44846

60760

33271

50649

40652

50785

49833

45068

42807

53543

62820

38859

40702

58120

43418

50274

45724

54446

30218

45554

28674

51939

36815

34599

32198

48160

49688

28442

31295

62359

64781

56258

45783

53459

57696

51462

35601

37031

48509

47326

36542

50437

60501

44381

54730

30211

48835

43918

31609

59359

54386

65989

41470

65531

34758

60157

60166

62005

49696

59502

59631

63002

41270

48152

52851

41037

41289

33472

53280

34612

54503

28147

29835

49949

45801

43928

62816

51836

57119

46663

42701

63352

44949

55423

48744

66980

65436

63973

42289

28713

51612

60954

55696

62450

35184

57265

61162

51668

49306

36963

39280

36819

38593

34541

48854

46273

35630

34580

66387

41698

37436

51526

34096

29336

30783

42985

55489

47120

52003

47426

64763

28599

51709

60675

32749

62738

44322

47166

55370

52778

48218

54228

54963

61411

29146

53944

54185

28747

28592

38826

59364

50970

63667

56936

38810

45661

32470

55511

37851

48452

51358

42424

30417

35957

28745

66184

51141

49432

28079

38102