Given the part worths above, which lightbulb will be preferred in the market, a super bright bulb that is 100 watts but burns out in 1500 hours and sells for 2.50, or a long life bulb that lasts 2500 hours, is 75 watts and sells for 3.00?
a. the super bright bulb
b. the long life bulb
c. The two bulbs will be equally preferred.
d. There is no way of determining this without more data.
Question 2
Which of the following is most appropriate if the purpose of the regression analysis is forecasting?
a. standardized regression coefficient ()
b. Y-intercept
c. coefficient of determination (R2)
d. raw parameter estimates
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