Im trying to study for my Economics course and I need some help to understand this question.

Using the equation ( With Numbers ) ,Provide a simple example by substituting in the equation ( once ) and then explain the effect on demand of a particular product ( Cars )

No Need for long, details calculations. just a simple definition for each variable and it’s effect ( only 1 Page )

Regression equation: linear, additive

eg: Y = a + b1X1 + b2X2 + b3X3 + b4X4

Y: dependent variable

a: constant value, y-intercept

Xn: independent variables, used to explain Y

bn: regression coefficients (measure impact of independent variables)