Given the following equation. = 50.13 + 0.73X + ɛ where, Y = number of products sold X= Advertising budget Explain the above equation precisely.

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Given the following equation.
P =
= 50.13 + 0.73X + ɛ
where,
Y = number of products sold
X = Advertising budget
Explain the above equation precisely.
2.
Transcribed Image Text:Given the following equation. P = = 50.13 + 0.73X + ɛ where, Y = number of products sold X = Advertising budget Explain the above equation precisely. 2.
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