Suppose you estimate the following regression equation (y-ha…
Suppose you estimate the following regression equation (y-hat line) relating the “tastiness score” of chocolate candies to the number of calories in a serving, whether the candy contains nuts, and whether the candy is from a U.S. candy maker: TASTE = 30 + 0.25CALORIE + 5NUT – 3U.S. [TASTE = overall taste rating, 0-to-100, CALORIE = number of calories per serving, NUT is a dummy variable equal to 1 if the candy contains nuts (0 otherwise), and U.S. is a dummy variable equal to 1 if the candy is from an American candy maker (0 otherwise).] Question: Interpret, precisely, the coefficient on NUT from the regression equation above.
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