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Would a unit increase in consumer income

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Reference no: EM132570925

Kim K. asks you to develop a demand forecast for her perfume line.

Using the data provided, you find a regression model, y = 4 + 3.36x1 + 5x2, with the undernoted parameters. Kim asks you the question below - please answer her.
Parameters: R2= 0.88
Sig of F: 0.04
p-value of x1= 0.05
p-value of x2= 0.04
x1 denotes Consumer Income
x2 denotes Advertising
y denotes Demand

Would a unit increase in Consumer Income (x1) result in an increase of 3.36 units in Demand (y), on average?

Reference no: EM132570925

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