suppose we have 60 days of data on the price and quantity of a shop, during that time, the price remains the same but the daily quantity fluctuates. which of the following statement is correct? A. if we regress quantity on price, the R-squared will be 0. B. if we regress quantity on price, the R-squared will be 1. C. if we regress price on quantity, the intercept estimate will be 0. D. none of above

Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015
1st Edition
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:HOUGHTON MIFFLIN HARCOURT
Chapter6: Exponential Functions And Sequences
Section: Chapter Questions
Problem 6CA
icon
Related questions
Question
suppose we have 60 days of data on the price and quantity of a shop, during that time, the price remains the same but the daily quantity fluctuates. which of the following statement is correct? A. if we regress quantity on price, the R-squared will be 0. B. if we regress quantity on price, the R-squared will be 1. C. if we regress price on quantity, the intercept estimate will be 0. D. none of above
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL