Question: f ) How will the estimated B 1 coefficient change is retail price is measured in dollars? Why does it change in this way? g
f How will the estimated B coefficient change is retail price is measured in
dollars? Why does it change in this way?
g Prove to yourself that your answer in f is correct by doing the following
commands:
replace retailprice retailprice
reg packspc retailprice
h What is the predicted consumption level in the state if the retail price is $ per pack recall that the data are from
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