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Exhibit 16

Question 20

Multiple Choice

Exhibit 16.2.Typically,the sales volume declines with an increase of a product price.It has been observed,however,that for some luxury goods the sales volume may increase when the price increases.The following Excel output illustrates this rather unusual relationship. Exhibit 16.2.Typically,the sales volume declines with an increase of a product price.It has been observed,however,that for some luxury goods the sales volume may increase when the price increases.The following Excel output illustrates this rather unusual relationship. Refer to Exhibit 16.2.Using the cubic regression equation,predict the sales if the luxury good is priced at $100. A) 1171.85 B) 1133.10 C) 1106.61 D) 1092.91 Refer to Exhibit 16.2.Using the cubic regression equation,predict the sales if the luxury good is priced at $100.


A) 1171.85
B) 1133.10
C) 1106.61
D) 1092.91

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