Extremely trivial question but I just want to ensure I have the right interpretation.
I have the following model: ln(y) = b0 + b1 X1
where X1 is a percentage type. My coeffcient b1 = 0.0096, so would this be interpreted as:
a 1% change in X1 will increase y by 0.0096%, or am I mistaken?
Thank you
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