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Following regression show the relationship between the food expenditure (y) and income (x). y'=12+566ln(x) where ln is a natural log. We can interpret the slope coefficient as: a. a 1 dollar increase in income will increase food expenditure on average by $5.66 b. a 1% increase in income will increase food expenditure on average by $566 c. a 1% increase in income will increase food expenditure on average by $5.66 d. a 1% increase in income will increase food expenditure on average by 5.66% e. a 1 dollar increase in income will increase food expenditure on average by $5.66%
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