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The following questions refers to this regression equation. (Standard errors in parentheses)
Qd=15-10P+1.5Adv+0.4 Px+2 l
(5.23)(2.29)(0.525)(1.75)(1.5)
R^2 = 0.65
N=120
F=35.25
Standard error of Y estimate =0.565
Qd = Quantity demanded
Adv = Advertising expense =54
Px = price of competitor's good =8
l = average monthly income =4
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