1. Suppose you ran a additive regression-based model of price vs time (years) and the point estimate for change in price per year was 1140. Interpret the slope.
Group of answer choices
a. The price tended to increase by 11.40% dollars per year.
b. The price tended to decrease by 1140 dollars per year.
c. The price tended to increase by 1140 dollars per year.
d. The price tended to decrease by 11.40% dollars per year.
2. Suppose you fit a multiplicative regression model for log_{10}(sales in $1000s) vs time (years) and the point estimate for change in log_{10}(sales in $1000s) per year is .06. Interpret the slope.
(Hint: You will need to raise the value of the slope to the power of 10.)
Group of answer choices
a. The sales decrease by $60 per year typically.
b. The sales decreased by 14.8% per year typically.
c. The sales increase by $60 per year typically.
d. The sales increased by 14.8% per year typically.
1)
c. The price tended to increase by 1140 dollars per year.
2) since increase in sales =10^0.06 =1.148
d. The sales increased by 14.8% per year typically.
1. Suppose you ran a additive regression-based model of price vs time (years) and the point...
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