Use the Equation Qd = 5,000 - 15P + 50A + 3Px -

Essay

Use the equation
Qd = 5,000 - 15P + 50A + 3Px - 4I,(2,117)(2.7)(15)(2)(3)
where Qd = Quantity Demanded,P = Good Price,A = Advertising Expenditures,Px = Price of a Competitive Good,A = Advertising Expenditures,I = Average Monthly Income,and the Standard Errors of the Regression Coefficients are shown in Parentheses.
Calculate the t-statistics for each variable and explain what inferences can be drawn from them.If R² of this equation is 0.25,what inference can be drawn from it?