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A Regression Analysis Between Demand Y in 1000 Units) and Price

Question 126

Multiple Choice

A regression analysis between demand Y in 1000 units) and price X in dollars) resulted in the following equation = 9 - 3X
Y^\hat { Y } The above equation implies that if the price is increased by $1, the demand is expected to


A) increase by 6 units
B) decrease by 3 units
C) decrease by 6,000 units
D) decrease by 3,000 units

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