Interpretation of coefficients

The following table displays part of the output of the multiple linear regression model of the sales of this month on various independent variables.

	Estimate	Std. Error	t value	Pr(>\|t\|)
(Intercept)	-282.83	10.07	-28.08	0.00
nItems	0.15	0.02	7.02	0.00
nCats	-0.96	0.20	-4.90	0.00
nPurch	0.51	0.15	3.36	0.00
salesLast3Mon	0.38	0.01	44.60	0.00
daysSinceLastPurch	0.17	0.15	1.12	0.26
meanItemPrice	0.23	0.09	2.46	0.01
meanShoppingCartValue	0.26	0.03	9.86	0.00
customerDuration	0.57	0.01	79.71	0.00

Take a look at the line for the meanItemPrice. If we assume a level of significance of 0.05, which of the following is true? Note that all other variables are held constant. Make sure you choose the best answer.

Answer the question

50 XP

Possible Answers

There is a positive, statistically significant relationship between the mean item price and the sales in the last three months.
press1
The effect of the mean item price on the sales this month is statistically significant. A one-unit increase in the mean item price leads to a 0.23 Euro increase in the sales of this month.
press2
A one-unit increase in the mean item price leads to a 0.23 Euro increase in the sales of this month. But the effect of the mean item price on the sales this month is not statistically significant.
press3
Since the coefficient for the mean item price is smaller than 1, the effect of the mean item price on the sales this month is negative. It is, however, not significant.
press4