A Consumer Group Collected Information on HDTVs

question 58

Multiple Choice

A consumer group collected information on HDTVs. They created a linear model to estimate the cost of an HDTV (in $) based on the screen size (in inches) . Which is the most likely value of the slope of the line of best fit?

• A) 7
• B) 0.70
• C) 700
• D) 7000
• E) 70

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Definitions:

Nuts

Edible seeds or fruits with a hard shell and a kernel that is eaten or used in cooking.

Berries

Small, pulpy fruits that are typically sweet or sour in taste and do not have a stone or pit, although there are exceptions.

Utility Function

A mathematical representation in economics that calculates an individual's preferred ranking of various bundles of goods, showing satisfaction levels from consumption.

Budget Constraint

A limit on the consumption bundles that a consumer can afford based on their income and the prices of goods.