MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Question 2

If price is $5 and income is $15, what is price elasticity? (Round your answer to two decimal places. If you answer is a number between -1 and 1, please do not omit the zero in the front. For example, you should have your answer as -0.46 instead of -.46).

Which of the following coefficients are statistically significant at the 5%
level? Select all that apply.
Intercept
Income
Price
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Transcribed Image Text:Which of the following coefficients are statistically significant at the 5% level? Select all that apply. Intercept Income Price
An analyst from your firm used a linear demand specification to estimate
the demand for its product
and sent you a hard copy of the results:
SUMMARY OUTPUT
Regression Statistics
Multiple R
R Square
Adjusted R Square
Standard Error
Observations
ANOVA
Regression
Residual
Total
Intercept
Income
Price
0.06735
0.00454
-0.00224
44.03878
297
df
2.00
294.00
296.00
SS
78.26
0.75
-1.86
2597.84
570187.72
572785.56
Coefficients Standard Error
7.00
1.47
1.77
MS
1298.92
1939.41
t Stat
11.18
0.51
-1.05
F
0.67
P-value
0.00
0.61
0.29
Significance F
0.51
Lower 95%
64.49
-2.15
-5.33
Upper 95%
92.04
3.65
1.62
Lower 95.0% Upper 95.0%
64.49
92.04
-2.15
3.65
-5.33
1.62
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Transcribed Image Text:An analyst from your firm used a linear demand specification to estimate the demand for its product and sent you a hard copy of the results: SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations ANOVA Regression Residual Total Intercept Income Price 0.06735 0.00454 -0.00224 44.03878 297 df 2.00 294.00 296.00 SS 78.26 0.75 -1.86 2597.84 570187.72 572785.56 Coefficients Standard Error 7.00 1.47 1.77 MS 1298.92 1939.41 t Stat 11.18 0.51 -1.05 F 0.67 P-value 0.00 0.61 0.29 Significance F 0.51 Lower 95% 64.49 -2.15 -5.33 Upper 95% 92.04 3.65 1.62 Lower 95.0% Upper 95.0% 64.49 92.04 -2.15 3.65 -5.33 1.62
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