Describe the economic meaning and statistical significance of each individual independent variable included in the San Francisco demand equation.
Interpret the coefficient of determination (R2) for the San Francisco demand equation.
What are expected unit sales and sales revenue in a typical market?
Qi = b0 + b1Pi + b2Pxi + b3Adi + b4Ii + uit
To illustrate use of the standard error of the estimate statistic, derive the 95 percent confidence interval for expected unit sales and total sales revenue in a typical market.
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