Consider the regression equation log = log 2.74 +0.4 log X + 1.19 log X....

 

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Consider the regression equation log Ŷ₁ = log 2.74 +0.4 log X₁ + 1.19 log X₂₁. a. Predict the value of Y when X₁ = 8.8 and X₂ = 4.7. b. Interpret the meaning of the regression coefficients b₁ and b2. a. The predicted value of Y is (Type an integer or decimal rounded to two decimal places as needed.) b. Choose the correct answer below. O A. For every decrease of one unit of Y, holding bo constant, the estimated change in log X₁ or log X₂ is b₁ or b₂ units respectively. B. Holding constant the other variables, for each one percent increase in X₁ or X₂, the value of Y increases by b₁ or b2 percent respectively. C. Holding constant the other variable, for every decrease of bo units in X₁ or X₂, the value of Y increases by b₁ or b2 units respectively. D. Holding constant the other variables, for each one percent increase in X₁ or X₂, the value of Y increases by b₁ or b2 units respectively. E. For every increase of b₁ units of log X₁ or b₂ units of log X₂, the value of Y will increase by one unit. Consider the regression equation log Ŷ₁ = log 2.74 +0.4 log X₁ + 1.19 log X₂₁. a. Predict the value of Y when X₁ = 8.8 and X₂ = 4.7. b. Interpret the meaning of the regression coefficients b₁ and b2. a. The predicted value of Y is (Type an integer or decimal rounded to two decimal places as needed.) b. Choose the correct answer below. O A. For every decrease of one unit of Y, holding bo constant, the estimated change in log X₁ or log X₂ is b₁ or b₂ units respectively. B. Holding constant the other variables, for each one percent increase in X₁ or X₂, the value of Y increases by b₁ or b2 percent respectively. C. Holding constant the other variable, for every decrease of bo units in X₁ or X₂, the value of Y increases by b₁ or b2 units respectively. D. Holding constant the other variables, for each one percent increase in X₁ or X₂, the value of Y increases by b₁ or b2 units respectively. E. For every increase of b₁ units of log X₁ or b₂ units of log X₂, the value of Y will increase by one unit.

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ANSWER a To predict the value of Y when X1 88 and X2 47 we can substitute these values into the regr... View the full answer