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Unformatted text preview: Print regression results. Write out the estimated demand function, as in 1 above. Equation: ____ Y_= __17.68_ + 0.005 – 1.78 _______________________ R 2 = 0.868 Std Errors ( 6.19) (0.133 ) ( 0.734) 3. Evaluating regression results: A Descriptive Statistic . With the data you generated in (2) above do the following. a. Interpret the R 2 . (In a sentence) 86.8% of the movement in the sales is explained by movements in price and advertising. __________________________________________________________________ b. At an approximate 95% level of confidence, can you conclude that price affects sales? Explain. Price Affects Sales? Y /N (circle one) Reason : The interval about price, -3.52 to-0.048 doesn’t include 0 ....
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This note was uploaded on 04/12/2010 for the course ECON 303 taught by Professor Shrestha during the Fall '08 term at VCU.
- Fall '08