Answered

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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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