Multiple Choice
A regression analysis between sales (in $1000) and price (in dollars) resulted in the following equation 
= 50,000 - 8x The above equation implies that an
A) increase of $1 in price is associated with a decrease of $8 in sales
B) increase of $8 in price is associated with an increase of $8,000 in sales
C) increase of $1 in price is associated with a decrease of $42,000 in sales
D) increase of $1 in price is associated with a decrease of $8000 in sales
Correct Answer:
Verified
Correct Answer:
Verified
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