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Suppose a multiple regression model is given by y =1.61x 1+5.58 x2 +30.48 What would an interpretation of the coefficient of x 1be?
An interpretation of the coefficient of x1 would be, "if x1 increases by 1 unit, then the response variable will increase by how many units, on average, while holding x2 constant?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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