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The demand function for good X is QXd = a + bPX + cM + e, where Px is the price of good X and M is income. Least squares regression reveals that:The R-squared is 0.35.
a. Compute the t-statistic for each of the estimated coefficients.
Instruction: Round your answers to the nearest 2 decimal places.
b. Determine which (if any) of the estimated coefficients are statistically different from zero. Select one:
c. What does the R-square in this regression indicate? Select one:
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