Question: please explain 1. Consider the Sherwin-williams Company example discussed in this chapter (see Table 4.1). Suppose one is interested in developing a simple regression model

please explain 1. Consider the Sherwin-williams Company example discussed in this

please explain

1. Consider the Sherwin-williams Company example discussed in this chapter (see Table 4.1). Suppose one is interested in developing a simple regression model with paint sales (Y) as the dependent variable and selling price (P) as the independent variable. The regression estimation and regression statistics are shown below: D= 390.376 - 14.263P Regression Statistics R Square 0.75 Standard Error 16.432 Observations 10 A. Give an economic interpretation of the estimated intercept (a) and slope (b) coefficients. (1 points)

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