Kim K asks you to develop a demand forecast for her perfume line Using the data provided, you find a regression model, y 4 3 36x 1 5x 2 , with the undernoted parameters Kim asks you the question below please answer her Parameters R 2 0 88 Sig of F 0 04 p value of x 1 0 05 p value of x 2 0 04 x 1 denotes Consumer Income x 2 denotes Advertising y denotes Demand Would a unit increase in Consumer Income (x 1) result in an increase of 3 36 units in Demand (y), on average

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Question: Kim K. asks you to develop a demand forecast for her perfume line. Using the data provided, you find a regression model, y = 4

Kim K. asks you to develop a demand forecast for her perfume line. Using the data provided, you find a regression model, y = 4 + 3.36x₁+ 5x₂, with the undernoted parameters. Kim asks you the question below - please answer her.

Parameters:R²=0.88

Sig of F:0.04

p-value of x₁=0.05

p-value of x₂=0.04

x₁denotes Consumer Income

x₂denotes Advertising

y denotes Demand

Would a unit increase in Consumer Income (x₁₎result in an increase of 3.36 units in Demand (y), on average?

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