You are working as a researcher in an economic Institute, you want to study the relation between the Unit sales as a Dependent variable and the following independent variables (selling expenditure, advertising, competitive price) As shown in the following model Unit Sales,= b0+b1 Expt + b2 Advt.b3 compt.Ut After collecting your data, and estimating your linear regression over the data, you got the following regression equation Unit Sales,= -10.5-0.51 Exp,+ (2.45) (-1.5) 0.09 Adv. 3.05 b3 compt (4.2) (2.94) t-value R² = 0.24 F- Value 0.33 " 1- What is the economic meaning of the coefficient b0 (-10.5) 2- Describe the meaning of R2 and its value, F - Value 3- What do you think about the Model as a whole, with F, R2 values....is it significant or not....explain your answer
