carm1867 carm1867

03-06-2023
Business

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Consider the estimated demand for tea in England
Y=9.1+7.8PO+2.4PC+0.0035M
SE (15.6) (1.2) (0.001)
R2= 0.60 n=25
Where Y is the quantity of tea consumed, PO is the price of Kenya coffee PC is the price of coffee and M is income
Establish the statistical significance of the price and income coefficients

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