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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
+ 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
= 3.8 + 0.23x1 - 1.31x2 + 0.032x3 - 0.0005
.
-What do these results suggest about the relationship between the total loan amount and number of loans?
Unknown Area
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The act of revealing personal information, thoughts, or feelings to others, fostering intimacy or trust in relationships.
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