What can you say about the statistical significance of the price coefficient in this second sample?Does both examples results are important for making a decision?
The standard error of this estimated coefficient is 32.78 The standard error= estimated coefficient/ t-statistic Suppose we had another focus group sample, ran a regression on that sample, and obtained the same coefficient on price but with a standard error 10 times as large. The standard error would be 327.78 and the new t-statistic would […]