Interpret the estimated value of and from a statistical standpoint, including the p-values. (You may not use GPT to answer the question on your behalf
Assignment 1
ECO 562
Answers Due 2/9 11:59pm on D2L
[5 Points]
1. [2 Points] Instruct ChatGPT 4o to flip 1,000,000 coins and save it to an Excel Spreadsheet. Make the chat sharable and provide the link as your response.
2. Consider the attached ‘Assignment 1_ECO 562.xlsx’, which contains a full year’s worth of revenue and sales volume for headphones.
a. [1 Point] Instruct ChatGPT 4o to estimate the regression below:
Revenue = ∗ Sales Volume + +
Provide the chat to the link, as well as the estimated and (with p-values).
b. [1 Point] Interpret the estimated value of and from a statistical standpoint, including the p-values. (You may not use GPT to answer the question on your behalf for this question)
c. [1 Point] Interpret the estimated value of and from a business standpoint. (You may not use GPT to answer the question on your behalf for this question)
