Based on the following regression results (Y = demand, X = price): Model Log-linear %3D %3D b1 b2 0.6652 0.9649 t = 122.98 0.0013 t = 9.69 %3D Log-lin 6.1533 t = 68.72 -20654 t 15.90 %3D Lin-log 3822 t = -13.13 t = 21.29 Linear 597.79 0.5331 t = 6.83 Where X = 10562 and F = 4346. t = 74.11 41. What is the elasticity of demand with respect to price for the Log-linear model? A. 13.7306 В. 1.2956 C. 0.9649 D. 0,8794 42. What is the elasticity of demand with respect to price for the Log-lin model when price is in average? A. 13.7306 В. 1.2956

Based on the following regression results (Y = demand, X = price): Model Log-linear %3D %3D b1 b2 0.6652 0.9649 t = 122.98 0.0013 t = 9.69 %3D Log-lin 6.1533 t = 68.72 -20654 t 15.90 %3D Lin-log 3822 t = -13.13 t = 21.29 Linear 597.79 0.5331 t = 6.83 Where X = 10562 and F = 4346. t = 74.11 41. What is the elasticity of demand with respect to price for the Log-linear model? A. 13.7306 В. 1.2956 C. 0.9649 D. 0,8794 42. What is the elasticity of demand with respect to price for the Log-lin model when price is in average? A. 13.7306 В. 1.2956

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section6.8: Fitting Exponential Models To Data

Problem 1TI: Table 2 shows a recent graduate’s credit card balance each month after graduation. a. Use...

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