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 B1 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 retail_price= retail_price/100
reg packs_pc retail_price
h) What is the predicted consumption level in the state if the retail price is $3 per pack (recall that the data are from 2000).

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