A Regression Analysis Between Demand Y in 1000 Units) and Price

question 126

Multiple Choice

A regression analysis between demand Y in 1000 units) and price X in dollars) resulted in the following equation = 9 - 3X
$\hat { Y }$ The above equation implies that if the price is increased by $1, the demand is expected to

• A) increase by 6 units
• B) decrease by 3 units
• C) decrease by 6,000 units
• D) decrease by 3,000 units

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Definitions:

Pineal Gland

A small endocrine gland in the brain that produces the hormone melatonin, involved in regulating sleep-wake cycles.

Melatonin

A hormone secreted by the pineal gland that plays a role in setting circadian rhythms.

Biological Rhythms

Natural processes that cyclically change over a period of time in living organisms, such as the circadian rhythm or menstrual cycle.

Onset of Sleep

The transition period from wakefulness to sleep, marking the beginning of the sleep cycle.