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Estimated demand model

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Please answer #3 … Use the attached data set to answer the questions. Questions #3 Evaluate the estimated demand model. A. What is the R2 ? Is it above 90%? 80%? i. Explain what the R2 means; i.e. how much of the variation in the quantity demanded does the model explain? B. What is the p-level associated with the model’s F-statistic? Is it less than 5%? 10%? What does the significance indicate about the model? C. Inspect the p-levels for all the independent variables. Are they less than 5%? 10%? Interpret the p-levels and explain which variables are statistically significant  D. Omit any insignificant variables and re-run the model. i. Make sure your model has at least the independent variables including, the good’s own price, the price of a related good, and income E. Re-evaluate steps a) – e) with the (new) model and any subsequent results


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