Question

Following the usual labeling, what is the value of β2 in the regression equation? Profit =...

Following the usual labeling, what is the value of β2 in the regression equation?

Profit = 950 - 0.3*(LC) + 0.04*(R) +  ε

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Answer #1

The regression equation with two variables is expressed as:

Given equation

Profit = 950 - 0.3*(LC) + 0.04*(R) +  ε

Comparing it to the given equation

y = Profit

= LC

= R

= 950

= -0.3

= 0.04

hence, = 0.04 given the usual labeling.

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