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 Exp + + b2 Adv t+ b3 comp + + 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 Expt + 0.09 Adv t+ 3.05 b3 compt t- value (2.45) (-1.5) (4.2) (2.94) 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
