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

Question 39

Multiple Choice

A regression analysis between demand (y in 1000 units) and price (x in dollars) resulted in the following equation: ​ A regression analysis between demand (y in 1000 units) and price (x in dollars) resulted in the following equation: ​ = 9 - 4x ​ The above equation implies that if the price is increased by $1, the demand is expected to A) increase by 5 units. B) decrease by 4 units. C) decrease by 5000 units. D) decrease by 4000 units. = 9 - 4x
​
The above equation implies that if the price is increased by $1, the demand is expected to


A) increase by 5 units.
B) decrease by 4 units.
C) decrease by 5000 units.
D) decrease by 4000 units.

Correct Answer:

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