Question: Suppose Bob does a linear regression that will use cost of a product to the number of days before being purchased on Facebook marketplace. He
Suppose Bob does a linear regression that will use cost of a product to the number of days before being purchased on Facebook marketplace. He finds there is a strong positive linear relationship and the regression line is Y = 7+.10X. Interpret the slope.
Group of answer choices
As price increases by $1, the number of days before being purchased increases by .10
As the number of days until being purchased increases by 1, the price increases by $.10
As the price increases by $.10, number of days until purchase increases by 7.
As the price increases by $1, the number of days until purchase increase by 7 + .10(1) = 7.10.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
