Question

5 QUESTION 16 13)-19) A company analyst is interested in the relationship between number of cars sold per month (in 1,000s)) and three independent variables: price per gallon of gasoline (X1-Gas, in $), the prevailing interest rate for car loans (X2=Interest, in %), and the car model (X3-model, with X3=1, if the car is standard; and X3-0, if the car is luxury). He took a sample of 50 observations and obtained the following output: Coefficients Standard Errort Stat P-value Intercept 96.0744 10.0080 5.60 0.0001 GAS - 16.1436 9.3158 -1.73 0.0927 INTEREST -2.3322 0.3624-6.43 0.0001 MODEL 14.4222 1.5869 9.09 0.0001 Which of the following best represents the interpretation of the slope b1? For each one-dollar increases in the gas price, the number of cars sold (in 1,000s) will decrease by 16.1436 on average, if INTEREST and MODEL are held constant. For each one-dollar increases in the gas price, the number of cars sold (in 1,000s) will decrease by -16.1436 on average, if INTEREST and MODEL are held constant For each one-dollar increases in the gas price, the number of cars sold (in 1,000s) will decrease by 16.1436 on average. For each one-dollar increases in the gas price, the number of cars sold (in 1.000s) will decrease by -16.1436 on average.

Answer 1

Answer:-

weite model y9660744 - 16-1436.= 2.3322X2.+ 14,4222 X3 b1 = -16.1436 intespeetation's for each one dollor increases in the gas price, the number of cars sold (in 1000s) will decrease. by 16:1436 on aresage interest and model are held constant if

First option is correct

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