# question 2 (1,2,3) thanks QUESTION 2 (15 Marks) The marketing manager of a local hamburger chain sto

question 2 (1,2,3) thanks QUESTION 2 (15 Marks) The marketing manager of a local hamburger chain store is investigating the price effects of their hamburger (PRICE) on sales revenue (SALES) in 2019. The following table is the regression results from a log-log model: log(SALES) = B. + Blog (PRICE) + e H SALES: monthly sales revenue (\$1000) PRICE: a price index for all products sold in a given month Model 2 To Dependent Variable: LOG SALES Method: Least Squares Date: 10/26/19 Time: 11:54 Sample: 1 75 Included observations: 75 Variable Coefficient Std. Error –Statistic Prob. LOG PRICE 5.342617 -0.575199 0.146978 0.084641 36.34978 6.795726 0.0000 0.0000 R-squared Adjusted R-squared S.E. of regression Sum squared resid Log likelihood F-statistic Prob(F-statistic) 0.387491 Mean dependent var 0.379100 S.D. dependent var 0.066536 Akaike info criterion 0.323177 Schwarz criterion 97.84374 Hannan-Quinn criter. 46.18189 Durbin-Watson stat 0.000000 4.345160 0.084440 -2.555833 -2.494033 -2.531157 2 207852 1) Report the estimated linear regression with the above regression results and interpret bz. (5 marks) 2) Construct a 95% confidence interval for bz. 302 30 bat (5 marks) 3) Using the p-value provided, test the following hypothesis at the 1% level of significance: Ho: Bi = 0; H: Bi # upa d mini What do we conclude? 2D od 1) Corolonge menteriti dad (5 marks)

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