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2. Multivariate Regression. Now add to your above regression in a price variable, with values: 8, 7.5, 7.25, 7.25, 6, 6.
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- 2 Multivariate Regression Now Add To Your Above Regression In A Price Variable With Values 8 7 5 7 25 7 25 6 6 1 (36.08 KiB) Viewed 48 times
2. Multivariate Regression. Now add to your above regression in a price variable, with values: 8, 7.5, 7.25, 7.25, 6, 6.75, 6, 5, 4.4, 5.2. Estimate the new multiple regression equation (now we have 2 independent variables). Print regression results. Write out the estimated demand equation, as in 1 above. Equation: t-values ( ) ( Reason: )( ) R2 = 3. Evaluating regression results: A Descriptive Statistic. With the data you generated in (2) above do the following. a. Interpret the R'. (In a sentence) b. At an approximate 95% level of confidence, can you conclude that price affects sales? In other words, is the estimated coefficient of PRICE statistically significant at the 5% level? Explain Does Price affect Sales? Y/N (circle one)