The value of B1 shows a fall in demand as price rises by a unit. The point prediction is given as y = 306,560.8
<h3>How to solve the question using the intercept</h3>
The regression equation shows that y= 306,619-27.71.x
b1 = -27.71
The interpretation for b1 is that if the price of this good is increased by 1, then the demand for the good would fall by about 27.71.
<h3>The point prediction for demand</h3>
The regression line equation is given as
y= 306,619-27.71.x
when x which is price is = 2.10
Then the value of y would be:
y = 306,619 - 27.71*2.10
y = 306,560.8
c. a 95% C1 for B1 is given as:
1.96 * 27.71.
= 54.31
Read more on regression lines equations here:
brainly.com/question/25987747
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