Consider a Log-Linear Model where the dependent variable is the quantity of sales as the number of
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Question:
Consider a Log-Linear Model where the dependent variable is the quantity of sales as the number of sales in a month. One independent variable is price in dollars. The coefficient on price is ?0.038. What do the results of the Log-Linear Model suggest?
Group of answer choices
On average, a $1 increase in price results in a 0.038 decrease in the number of sales in a month
On average, a 1% increase in price results in a 0.038% decrease in the number of sales in a month
On average, a 1% increase in price results in a 0.038 decrease in the number of sales in a month
On average, a $1 increase in price results in a 3.8% decrease in the number of sales in a month
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Related Book For 
Applied Statistics For Public And Nonprofit Administration
ISBN: 9781285737232
9th Edition
Authors: Kenneth J. Meier, Jeffrey L. Brudney, John Bohte
Posted Date:
