You have estimated the following model for demand of grape juice using one
hundred observations.
Qg= 150.83–0.75Pg+ 0.37Po+0.65Y.
(0.04) (0.23) (0.02) (0.52)R-square=0.78
Where, Qg=quantitydemandedofgrapejuicebottles.
Pg=price ofgrapejuiceperunit.
Po=Priceoforangejuice.
Y=Income.
Standarderrorsareinparenthesis.
i)Interpret the results.
ii)Which partial slope coefficients are statistically different fromzero? Which test do
you use and why?