Below is the regression output for E(Charged) = beta _0 + beta _1Income + beta _

Question

Below is the regression output for E(Charged) = beta _0 + beta _1Income + beta _2Size + beta _3East (Model 1). What is the estimated regression equation? Following Q10, what it means by the coefficient of East (-74)? Choose the most appropriate explanation. The mean annual credit card charges for consumers who reside in West is $74 less than those for consumers who reside in East, holding their income and household size the same The mean annual credit card charges for consumers who reside in East is $74 less than those for consumers who reside in West, holding their income and household size the same The mean annual credit card charges for consumers who reside in West is $74 less than those for consumers who reside in East The mean annual credit card charges for consumers who reside in East is $74 less than those for consumers who reside in West

Explanation / Answer

Answer : The mean annual credit card charges for consumers who reside in East is $74 less than those for consumers who reside in West.

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