Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You are working as a researcher in an economic Institute, you want to study the relation between the Unit sales as a Dependent variable

  

You are working as a researcher in an economic Institute, you want to study the relation between the Unit sales as a Dependent variable and the following independent variables (selling expenditure, advertising, competitive price) As shown in the following model Unit Sales += b0+b1 Exp + + b2 Adv t+ b3 compt +Ut After collecting your data, and estimating your linear regression over the data, you got the following regression equation Unit Sales += -10.5 0.51 Expt + 0.09 Adv t+ 3.05 b3 compt (2.45) (-1.5) (4.2) (2.94) F- Value 0.33 t- value R = 0.24 1 1- What is the economic meaning of the coefficient b0 (-10.5) 2- Describe the meaning of R and its value, F - Value 3- What do you think about the Model as a whole, with F, R2 values ....is it significant or not....explain your answer

Step by Step Solution

3.36 Rating (177 Votes )

There are 3 Steps involved in it

Step: 1

1 The coefficient b0 105 is the intercept of the proposed linear regression It gives an indication o... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Statistics Principles And Methods

Authors: Richard A. Johnson, Gouri K. Bhattacharyya

7th Edition

8126557745, 470904119, 978-0470904114

More Books

Students also viewed these Accounting questions