A Regression Analysis Between Sales (In $1000) and Price (In

question 118

Multiple Choice

A regression analysis between sales (in $1000) and price (in dollars) resulted in the following equation: ​ = 40 - 6x
​
The above equation implies that an

• A) increase of $1 in price is associated with a decrease of $6 in sales.
• B) increase of $8 in price is associated with a decrease of $24,000 in sales.
• C) increase of $1 in price is associated with a decrease of $240 in sales.
• D) increase of $1 in price is associated with a decrease of $6000 in sales.

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Definitions:

Crowdsourcing

The practice of obtaining information or input into a project or task by enlisting the services of a large number of people, typically via the Internet.

Brand-Leadership Strategy

Strategic approach focusing on establishing a brand as a leader in its category or market through marketing, innovation, and consumer engagement.

Diversifies

The act of expanding or varying products, investments, or activities to spread or reduce risk, or to increase the range of operations.

Brand Name

The name given to a product or service by its manufacturer or provider, used for identification and marketing purposes.