53 5.3 The following regression shows the impact of the per-can price of Fanta in cents (PRICE) on the production of it (in number of cans) per day (PRODUCTION) at 50 spaza shops in Bellville: Dependent Variable: PRODUCTION Variable C PRICE r-square: 0.8246 Parameter -29.3929 3.9962 SE of regression: 194.0771 Std. Error 12.3829 1.5955 sample size 50 What will be values of the parameters, variance and standard errors of the parameters, estimated variance of error terms, coefficient of determination and correlation coefficient, if PRODUCTION is measured in hundreds of cans and price is measured in Rands? Show all calculations.
53 5.3 The following regression shows the impact of the per-can price of Fanta in cents (PRICE) on the production of it (in number of cans) per day (PRODUCTION) at 50 spaza shops in Bellville: Dependent Variable: PRODUCTION Variable C PRICE r-square: 0.8246 Parameter -29.3929 3.9962 SE of regression: 194.0771 Std. Error 12.3829 1.5955 sample size 50 What will be values of the parameters, variance and standard errors of the parameters, estimated variance of error terms, coefficient of determination and correlation coefficient, if PRODUCTION is measured in hundreds of cans and price is measured in Rands? Show all calculations.
Chapter1: Making Economics Decisions
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This is an econometrics question. Please answer in 4 decimal places
Transcribed Image Text:53
5.3
The following regression shows the impact of the per-can price of Fanta in cents (PRICE)
on the production of it (in number of cans) per day (PRODUCTION) at 50 spaza shops
in Bellville:
Dependent Variable: PRODUCTION
Variable
C
PRICE
r-square: 0.8246
Parameter
-29.3929
3.9962
SE of regression: 194.0771
Std. Error
12.3829
1.5955
sample size 50
What will be values of the parameters, variance and standard errors of the parameters,
estimated variance of error terms, coefficient of determination and correlation
coefficient, if PRODUCTION is measured in hundreds of cans and price is measured
in Rands? Show all calculations.
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