Multiple Choice
Big City Java is a local coffee bar. Using Excel, the manager of Big City Java estimates the weekly demand function for their grand mocha coffees to be Qd = 650 - (15.25 × P) . The estimated regression equation suggests that if Big City Java decreased its price of grana mocha coffees from $7.50 to $6.50, the predicted quantity demanded of coffees would________.
A) decrease by 15.25
B) increase by 15.25
C) not change
D) exactly double
Correct Answer:
Verified
Correct Answer:
Verified
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