Taiwo Mafimisebi

For fish marketers, the explicit regression equation is of theformY = f (X 1, X 2, X 3, X 4, X 5, X 6, X 7, X 8, u)……………………………(4)WhereY = Profit from fish marketing (N)X 1= Quantity of fish sold (kg)X 2= Cost of transportation (N)X 3= Cost of fish purchased for resale (N)X 4= Cost of other marketing functions (N)X 5= Household sizeX 6= Years of marketing experienceX 7= Age (yrs)X 8=Number of years of formal educationu = Random component which takes care of omitted variablesthat could affect profit