DEPENDENT VARIABLE Qc R- SQUARE P- VALUE ON F 64 0.8093 0.0001 INDEPENDENT VARIABLE PARAMETER ESTIMATE STANDARD ERROR T-RATIO P-VALUE INTERCEPT 8.20 4.01 2.04 0.0461 PC -3.54 1.64 -2.16 0.0357 M 0.64287 0.19 3.38 0.0014 PA 0.7854 0.38 2.07 0.0439 7. If the price of asphalt (PR) decreases by 15, what will happen to the estimated quantity of cement demanded? Q = f( P, M, PR) where Qc = demand for cement/month (in yards) Pc = the price of cement per yard, M = country’s tax revenues per capita, and PR = the price of asphalt per yard.
DEPENDENT VARIABLE Qc R- SQUARE P- VALUE ON F 64 0.8093 0.0001 INDEPENDENT VARIABLE PARAMETER ESTIMATE STANDARD ERROR T-RATIO P-VALUE INTERCEPT 8.20 4.01 2.04 0.0461 PC -3.54 1.64 -2.16 0.0357 M 0.64287 0.19 3.38 0.0014 PA 0.7854 0.38 2.07 0.0439 7. If the price of asphalt (PR) decreases by 15, what will happen to the estimated quantity of cement demanded? Q = f( P, M, PR) where Qc = demand for cement/month (in yards) Pc = the price of cement per yard, M = country’s tax revenues per capita, and PR = the price of asphalt per yard.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
DEPENDENT VARIABLE | Qc | R- SQUARE | P- VALUE ON F | |
64 | 0.8093 | 0.0001 | ||
INDEPENDENT VARIABLE |
PARAMETER ESTIMATE |
STANDARD ERROR |
T-RATIO |
P-VALUE |
INTERCEPT | 8.20 |
4.01 |
2.04 | 0.0461 |
PC | -3.54 | 1.64 | -2.16 | 0.0357 |
M | 0.64287 | 0.19 | 3.38 | 0.0014 |
PA | 0.7854 | 0.38 | 2.07 | 0.0439 |
7. If the price of asphalt (PR) decreases by 15, what will happen to the estimated quantity of cement demanded?
Q = f( P, M, PR) where Qc = demand for cement/month (in yards) Pc = the price of cement per yard, M = country’s tax revenues per capita, and PR = the price of asphalt per yard.
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