Consider the estimated equation (standard errors in parentheses): j = 15.83 + 0.829x %3D If all values of x were divided by 20 before estimating, the estimated equation would be: y = 15.83 + 0.041x %3D j = 0.792 + 0.041x y = 316.6 + 16.58x %3D j = 15.83 + 16.58x %3D

Consider the estimated equation (standard errors in parentheses): j = 15.83 + 0.829x %3D If all values of x were divided by 20 before estimating, the estimated equation would be: y = 15.83 + 0.041x %3D j = 0.792 + 0.041x y = 316.6 + 16.58x %3D j = 15.83 + 16.58x %3D

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

Chapter5: Business And Economic Forecasting

Section: Chapter Questions

Problem 1E: The forecasting staff for the Prizer Corporation has developed a model to predict sales of its...

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Question

Consider the estimated equation (standard errors in parentheses):
ŷ = 15.83 + 0.829x
%3D
If all values of x were divided by 20 before estimating, the estimated
equation would be:
y = 15.83 + 0.041x
%3D
j = 0.792 + 0.041x
y = 316.6 + 16.58x
%3D
j = 15.83 + 16.58x
%3D

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