How are the results the same or different explain why the


1. Assuming that there is a model of quantity demanded (Y) and personal income (X), and the linear regression you have run was estimated using income measured in $1,000. But in reality people's income is measured in $1 not $1,000. If you multiply the income variable by 1,000 and re-estimate the model.

a. How are the results the same or different?

b. Explain why the results would be the same or different.

Solution Preview :

Prepared by a verified Expert
Macroeconomics: How are the results the same or different explain why the
Reference No:- TGS01199164

Now Priced at $10 (50% Discount)

Recommended (92%)

Rated (4.4/5)