Q = a + bP + cM + dPR where Q is the quantity demanded of the product Conlan Enterprises sells, P is the price of that product, M is income, and PR is the price of a related product. The results of the estimation are presented below: DEPENDENT VARIABLE: Q R-SQUARE F-RATIO P-VALUE ON F OBSERVATIONS: 32 0.7984 36.14 0.0001 VARIABLE PARAMETER ESTIMATE STANDARD ERROR T-RATIO P-VALUE INTERCEPT 846.3000 76.7000 11.03 0.0001 P –8.6000 2.6000 –3.31 0.0026 M 0.0184

Q = a + bP + cM + dPR where Q is the quantity demanded of the product Conlan Enterprises sells, P is the price of that product, M is income, and PR is the price of a related product. The results of the estimation are presented below: DEPENDENT VARIABLE: Q R-SQUARE F-RATIO P-VALUE ON F OBSERVATIONS: 32 0.7984 36.14 0.0001 VARIABLE PARAMETER ESTIMATE STANDARD ERROR T-RATIO P-VALUE INTERCEPT 846.3000 76.7000 11.03 0.0001 P –8.6000 2.6000 –3.31 0.0026 M 0.0184

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter3: Functions And Graphs

Section3.3: Lines

Problem 76E

See similar textbooks

DEPENDENT VARIABLE:	Q	R-SQUARE	F-RATIO	P-VALUE ON F
OBSERVATIONS:	32	0.7984	36.14	0.0001
VARIABLE		PARAMETER ESTIMATE	STANDARD ERROR	T-RATIO	P-VALUE
INTERCEPT		846.3000	76.7000	11.03	0.0001
P		–8.6000	2.6000	–3.31	0.0026
M		0.0184	0.0048	3.83	0.0007
PR		–4.3075	1.2300	–3.50	0.0016