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A Linear Regression Model Estimating the Relationship Between Expenditure on Imports

Question 96

Essay

A linear regression model estimating the relationship between Expenditure on imports ($) and Annual household income ($) is as follows:
Estimated Expenditure on Imports = 1.35 + 0.11Annual household income.
Interpret the slope.

Correct Answer:

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The intercept:
We estimate, th...

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