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THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 7

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THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A loan officer is interested in examining the determinants of the total dollar value of residential loans made during a month.She used Y = β0 + β1X1 + β2X2 + β3X3 + β4

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: A loan officer is interested in examining the determinants of the total dollar value of residential loans made during a month.She used Y = β<sub>0</sub> + β<sub>1</sub>X<sub>1</sub> + β<sub>2</sub>X<sub>2</sub> + β<sub>3</sub>X<sub>3</sub> + β<sub>4</sub> <sub> </sub> + ε to model the relationship,where Y is the total dollar value of residential loans in a month (in millions of dollars) ,X<sub>1</sub><sub> </sub>is the number of loans,X<sub>2</sub> is the interest rate,and X<sub>3</sub> is the dollar value of expenditures of the bank on advertising (in thousands of dollars) .Suppose that by using data from the past 24 months,she obtained = 3.8 + 0.23x<sub>1</sub> - 1.31x<sub>2</sub> + 0.032x<sub>3</sub> - 0.0005 . -What do these results suggest about the relationship between the total loan amount and advertising? A) As the amount of advertising increases,the total loan amount decreases at a decreasing rate. B) As the amount of advertising increases,the total loan amount at first decreases,then increases. C) As the amount of advertising increases,the total loan amount increases at an increasing rate. D) As the amount of advertising increases,the total loan amount at first increases,then decreases.
+ ε to model the relationship,where Y is the total dollar value of residential loans in a month (in millions of dollars) ,X1 is the number of loans,X2 is the interest rate,and X3 is the dollar value of expenditures of the bank on advertising (in thousands of dollars) .Suppose that by using data from the past 24 months,she obtained THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: A loan officer is interested in examining the determinants of the total dollar value of residential loans made during a month.She used Y = β<sub>0</sub> + β<sub>1</sub>X<sub>1</sub> + β<sub>2</sub>X<sub>2</sub> + β<sub>3</sub>X<sub>3</sub> + β<sub>4</sub> <sub> </sub> + ε to model the relationship,where Y is the total dollar value of residential loans in a month (in millions of dollars) ,X<sub>1</sub><sub> </sub>is the number of loans,X<sub>2</sub> is the interest rate,and X<sub>3</sub> is the dollar value of expenditures of the bank on advertising (in thousands of dollars) .Suppose that by using data from the past 24 months,she obtained = 3.8 + 0.23x<sub>1</sub> - 1.31x<sub>2</sub> + 0.032x<sub>3</sub> - 0.0005 . -What do these results suggest about the relationship between the total loan amount and advertising? A) As the amount of advertising increases,the total loan amount decreases at a decreasing rate. B) As the amount of advertising increases,the total loan amount at first decreases,then increases. C) As the amount of advertising increases,the total loan amount increases at an increasing rate. D) As the amount of advertising increases,the total loan amount at first increases,then decreases.
= 3.8 + 0.23x1 - 1.31x2 + 0.032x3 - 0.0005 THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: A loan officer is interested in examining the determinants of the total dollar value of residential loans made during a month.She used Y = β<sub>0</sub> + β<sub>1</sub>X<sub>1</sub> + β<sub>2</sub>X<sub>2</sub> + β<sub>3</sub>X<sub>3</sub> + β<sub>4</sub> <sub> </sub> + ε to model the relationship,where Y is the total dollar value of residential loans in a month (in millions of dollars) ,X<sub>1</sub><sub> </sub>is the number of loans,X<sub>2</sub> is the interest rate,and X<sub>3</sub> is the dollar value of expenditures of the bank on advertising (in thousands of dollars) .Suppose that by using data from the past 24 months,she obtained = 3.8 + 0.23x<sub>1</sub> - 1.31x<sub>2</sub> + 0.032x<sub>3</sub> - 0.0005 . -What do these results suggest about the relationship between the total loan amount and advertising? A) As the amount of advertising increases,the total loan amount decreases at a decreasing rate. B) As the amount of advertising increases,the total loan amount at first decreases,then increases. C) As the amount of advertising increases,the total loan amount increases at an increasing rate. D) As the amount of advertising increases,the total loan amount at first increases,then decreases.
.
-What do these results suggest about the relationship between the total loan amount and advertising?

Definitions:

Product Life Cycle

An idea that outlines the various phases a product experiences, from its initial launch, through its development and peak, to its eventual decrease in popularity in the marketplace.

Profits Decline

A decrease in the net earnings of a company over a specific period compared to previous periods, often reflecting challenges in operations or sales.

Competition

The rivalry among businesses to capture sales, market share, and customer loyalty in a particular market or industry.

Theoretically

Pertaining to or based on a theory; an explanation or system of ideas intended to explain something, especially one based on general principles independent of the thing to be explained.

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