Homework Answers
Answer 21:
The coefficient of price in demand equation estimated using the regression technique is equal to -0.2.
Change in demand of water with 12 per cent increase in the price of water = -0.2 * 12 % = -2.4 per cent.
Thus, if the price of water increased by 12%, then demand for water will go down by 2.4 per cent.
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QUESTION 21 From the regression example discussed in class and based on the information below, if...
QUESTION 20 From the Regression output below, what is the impact on the quantity demand of...
QUESTION 20 From the Regression output below, what is the impact on the quantity demand of water when incomes increase by 3% Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0.925 0.856 0.846 0.059 45 ANOVA 81.46 Regression Residual Total SMS 0.85 0.28 0.14 0.00 0.99 t Intercept PRICE INCOME WEATHER Coefficients 13.040 -0.200 1.500 0.124 Standard Error 0.758 0.063 0.079 0.065 Stat 17.194 -7.904 13.162 1.909 P-value 0.000 0.000 0.000 0.063 A. Increase by 3%...
From the regression example discussed in class and based on the information below: Regression Statistics Multiple...
From the regression example discussed in class and based on the information below: Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0.925 0.856 0.846 0.059 45 ANOVA P dfss SMS 3 0 .85 0.14 440.99 Significance F 0.00 Regression Residual Total 0.28 0.00 81.46 Intercept PRICE INCOME WEATHER Coefficients 13.040 -0.200 1.500 0.124 Standard Error 0.758 0.063 0.079 0.065 Stat P-value 17.1940 .000 -7.904 0.000 13.162 0.000 1.909 0.063 L ower 95% 11.508 -0.627 0.883 -0.007...
QUESTION 12 Below is some of the regression output from a regression of the amount various...
QUESTION 12 Below is some of the regression output from a regression of the amount various customers paid for a new car (expressed in dollars) versus the age of the customer (expressed in years), the number of previous cars the customer had purchased from the dealership in the past, a dummy variable indicating the gender of the customer (=1 for a Man and = 0 for a woman), and an interactive term the multiplies the age of the customer with...
QUESTION 20 From the Regression output below, what is the impact on the quantity demand of water when incomes increase by 3% Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0.925 0.856 0.846 0.059 45 ANOVA 81.46 Regression Residual Total SMS 0.85 0.28 0.14 0.00 0.99 t Intercept PRICE INCOME WEATHER Coefficients 13.040 -0.200 1.500 0.124 Standard Error 0.758 0.063 0.079 0.065 Stat 17.194 -7.904 13.162 1.909 P-value 0.000 0.000 0.000 0.063 A. Increase by 3%...
From the regression example discussed in class and based on the information below: Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0.925 0.856 0.846 0.059 45 ANOVA P dfss SMS 3 0 .85 0.14 440.99 Significance F 0.00 Regression Residual Total 0.28 0.00 81.46 Intercept PRICE INCOME WEATHER Coefficients 13.040 -0.200 1.500 0.124 Standard Error 0.758 0.063 0.079 0.065 Stat P-value 17.1940 .000 -7.904 0.000 13.162 0.000 1.909 0.063 L ower 95% 11.508 -0.627 0.883 -0.007...
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