Estimate the demand curve using regression analysis. Write down the equational form. Interpret the coefficients, statistical significance
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Estimate the demand curve using regression analysis. Write down the equational form. Interpret the coefficients, statistical significance and R2. What are the limitations of your specification (omitted variables, correlation vs. causality)?
Quantity | Price |
84 | 59 |
80 | 65 |
85 | 54 |
83 | 61 |
81 | 64 |
84 | 58 |
87 | 48 |
78 | 68 |
82 | 63 |
76 | 70 |
79 | 65 |
75 | 80 |
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