Multiple Choice
A regression analysis between demand (y in 1000 units) and price (x in $) resulted in the following equation: estimated Y = 9 - 5x.This equation implies that if the price is increased by $1, the demand is expected to
A) increase by 9000-5000 = 4000 units
B) decrease by 9000 units
C) decrease by 9000 + 5000 = 14,000 units
D) decrease by 5,000 units
E) none of the above
Correct Answer:
Verified
Correct Answer:
Verified
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