A Multiple Regression Analysis Showed the Following Results of the Individual

question 123

Essay

A multiple regression analysis showed the following results of the individual independent variables. X₄ is a qualitative variable. If X₄ is equal to one, what is the variable's effect on the dependent variable?

---

Definitions:

Price of Orange

Refers to the cost to purchase a single unit or a specified amount of oranges in a given market.

Substitution Effect

The economic principle that as prices rise or income decreases, consumers replace more expensive items with less costly alternatives.

Normal Goods

Goods for which demand increases as consumer income rises, and decreases when consumer income falls.

Interest Rate

The cost of borrowing money or the return on investment, expressed as a percentage, charged by lenders to borrowers for the use of their money.