A Regression Analysis Between Sales in $1000) and Price in Dollars)

question 48

Multiple Choice

A regression analysis between sales in $1000) and price in dollars) resulted in the following equation = 60 - 8X
$\hat { Y }$ 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 decrease of $52,000 in sales
• C) increase of $1 in price is associated with a decrease of $52 in sales
• D) increase of $1 in price is associated with a decrease of $8000 in sales

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