Question: A linear industry demand function of the form Q=a+bP+cM+dP R was estimated using regression analysis. The results of this estimation are as follows: DEPENDENT

A linear industry demand function of the form Q=a+bP+cM+dP R was estimated

A linear industry demand function of the form Q=a+bP+cM+dP R was estimated using regression analysis. The results of this estimation are as follows: DEPENDENT VARIABLE: Q R-SQUARE F-RATIO OBSERVATIONS: 32 0.9419 151.32 P-VALUE ON F 0.0001 PARAMETER STANDARD VARIABLE ESTIMATE ERROR T-RATIO P-VALUE INTERCEPT 11408.60 2256.32 5.06 0.0001 P -432.59 107.27 -4.03 0.0004 M -0.0885 0.02341 -3.78 0.0008 PR 126.35 71.77 1.76 0.0892

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