Interpret the slope coefficients

Reference no: EM131809354

Question: Osteoporosis is a degenerative disease that primarily affects women over the age of 60. A research analyst wants to forecast sales of Strong Bones, a prescription drug for treating this debilitating disease. She uses the model Sales = β0 + β1 Pop + β2lnc + ε, where Sales refers to the sales of Strong Bones ($ millions), Pop is the number of women over the age of 60 (in millions), and Inc is the average income of women over the age of 60 ($1,000s). She collects data on 38 cities across the United States and obtains the following relevant regression results:

a. What is the sample regression equation?

b. Interpret the slope coefficients.

c. Predict sales if a city has 1.5 million women over the age of 60 and their average income is $44,000.

Reference no: EM131809354

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