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In the Managerial? Solution, we estimated a focus? group's demand curve for iTunes downloads. The estimated...

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Advance Math

In the Managerial? Solution, we estimated a focus? group'sdemand curve for iTunes downloads. The estimated coefficient onprice was

negative 413?413?,

and the? t-statistic was

negative 12.8?12.8.

Using these? values, what is the standard error of thisestimated? coefficient?

The standard error of the price coefficient is

32.2732.27.

?(Enter your response rounded to two decimal? places.)

Suppose we had another focus group? sample, ran a regression onthat? sample, and obtained the same coefficient on price but with astandard error

fivefive

times as large. What can you say about the statisticalsignificance of the price coefficient in this second? sample?

The price coefficient

?

would not be

would be

statistically significantly different than zero at the 0.05confidence level

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