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Mathematics, 15.04.2021 22:20 sashajayne8260
The following is an estimated demand function: Q = 875 + 6X +15Y − 5P Where Q is quantity sold, X is advertising expenditure (in thousands of dollars), Y is income (in thousands of dollars), and P is the good's price. The R2 was 0.92; the F-statistic was 57; the Standard Error of the Estimate (SEE) is 25. In the above regression: A. income has the highest importance in predicting sales. B. all of the options. C. the regression model is capable of explaining 92% of sales. D. if price increases 10 dollars, the sales will decrease 50.
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The following is an estimated demand function: Q = 875 + 6X +15Y − 5P Where Q is quantity sold, X is...
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