You are working as a researcher in an economic Institute, you want to study the relation...

  

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You are working as a researcher in an economic Institute, you want to study the relation between the Unit sales as a Dependent variable and the following independent variables (selling expenditure, advertising, competitive price) As shown in the following model Unit Sales += b0+b1 Exp + + b2 Adv t+ b3 compt +Ut After collecting your data, and estimating your linear regression over the data, you got the following regression equation Unit Sales += -10.5 0.51 Expt + 0.09 Adv t+ 3.05 b3 compt (2.45) (-1.5) (4.2) (2.94) F- Value 0.33 t- value R² = 0.24 1 1- What is the economic meaning of the coefficient b0 (-10.5) 2- Describe the meaning of R² and its value, F - Value 3- What do you think about the Model as a whole, with F, R2 values ....is it significant or not....explain your answer You are working as a researcher in an economic Institute, you want to study the relation between the Unit sales as a Dependent variable and the following independent variables (selling expenditure, advertising, competitive price) As shown in the following model Unit Sales += b0+b1 Exp + + b2 Adv t+ b3 compt +Ut After collecting your data, and estimating your linear regression over the data, you got the following regression equation Unit Sales += -10.5 0.51 Expt + 0.09 Adv t+ 3.05 b3 compt (2.45) (-1.5) (4.2) (2.94) F- Value 0.33 t- value R² = 0.24 1 1- What is the economic meaning of the coefficient b0 (-10.5) 2- Describe the meaning of R² and its value, F - Value 3- What do you think about the Model as a whole, with F, R2 values ....is it significant or not....explain your answer

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1 The coefficient b0 105 is the intercept of the proposed linear regression It gives an indication o... View the full answer