The following data show the demand for an airline ticket dependent on the price of this ticket. For the assumed cubic and log-log regression models, Demand = β₀ + β₁Price + β₂Price²+ β₃Price³+ ε and ln(Demand) = β₀ + β₁ln(Price) + ε, the following regression results are available. Using the cubic model, which of the following is the predicted demand when the price is $200? A) 14,378.72 B) 9,201.45 C) 10,764.66 D) 12,499.98

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The Answer of The following data show the demand for an airline ticket dependent on the price of this ticket. For the assumed cubic and log-log regression models, Demand = β₀ + β₁Price + β₂Price²+ β₃Price³+ ε and ln(Demand) = β₀ + β₁ln(Price) + ε, the following regression results are available. Using the cubic model, which of the following is the predicted demand when the price is $200? A) 14,378.72 B) 9,201.45 C) 10,764.66 D) 12,499.98

The Following Data Show the Demand for an Airline Ticket