J 2 1 Consider an estimated linear regression model with a response Y and four predictors X1,X2, X3, and X4, based on a random sample of 25 sales agents of medical supplies in 3regions of the province. Y is annual sales in 1000$, X1 in 100$, X2 in 100$, X3 in %, andX4 in 1000$. The regression results are given below.InterceptX1X2X3X4CoefficientsStandard Error-593.53745 259.195852.513140.314281.905950.742392.651014.63566-0.120730.37181Find the upper limit of the change in the mean response for a unitchange in X2 with a 99% confidence level, assuming that the otherpredictors remain unchanged over the periodType your numerical answer here.Numbers only

Response variable = Y = Annual sales (in $1000s) Predictor variables: = X1 (in $100s) = X2 (in…

1 Consider an estimated linear regression model with a response Y and four predictors X1, X2, X3, and X4, based on a random sample of 25 sales agents of medical supplies in 3 regions of the province. Y is annual sales in 1000$, X1 in 100$, X2 in 100$, X3 in %, and X4 in 1000$. The regression results are given below. Intercept X1 X2 X3 X4 Coefficients -593.53745 2.51314 1.90595 2.65101 -0.12073 Standard Error Find the upper limit of the change in the mean response for a unit 259.19585 change in X2 with a 99% confidence level, assuming that the other predictors remain unchanged over the period 0.31428 0.74239 4.63566 0.37181

1 Consider an estimated linear regression model with a response Y and four predictors X1, X2, X3, and X4, based on a random sample of 25 sales agents of medical supplies in 3 regions of the province. Y is annual sales in 1000$, X1 in 100$, X2 in 100$, X3 in %, and X4 in 1000$. The regression results are given below. Intercept X1 X2 X3 X4 Coefficients -593.53745 2.51314 1.90595 2.65101 -0.12073 Standard Error Find the upper limit of the change in the mean response for a unit 259.19585 change in X2 with a 99% confidence level, assuming that the other predictors remain unchanged over the period 0.31428 0.74239 4.63566 0.37181

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter4: Estimating Demand

Section: Chapter Questions

Problem 4E

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