Multiple Choice
Application of simple linear regression analysis to the estimation of a demand equation has yielded the following:
Q = 44 - 11P
If the current product price is P = $1 and the quantity sold per time period is Q = 30, then the error (e) for the current time period is equal to
A) 3
B) 11
C) 29
D) 33
Correct Answer:
Verified
Correct Answer:
Verified
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