While working with the sales manager of your firm, you have estimated the following model of sales volume as a function of monthly household income: In(Q) = 3.418 + 1.212 In where Q is monthly sales volume, I is monthly household income (in $000). What does the model predict sales volume when income is $4000 per month? 708134 163.73 It cannot be determined without more information None of the above

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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While working with the sales manager of your firm, you have estimated the following model of sales
volume as a function of monthly household income:
In(Q) = 3.418 + 1.212 ln(1)
where Q is monthly sales volume, I is monthly household income (in $000). What does the model
predict sales volume when income is $4000 per month?
708134
163.73
It cannot be determined without more information
None of the above
Transcribed Image Text:While working with the sales manager of your firm, you have estimated the following model of sales volume as a function of monthly household income: In(Q) = 3.418 + 1.212 ln(1) where Q is monthly sales volume, I is monthly household income (in $000). What does the model predict sales volume when income is $4000 per month? 708134 163.73 It cannot be determined without more information None of the above
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