Regression Analysis Was Applied Between Demand for a Product (Y)

question 94

Multiple Choice

Regression analysis was applied between demand for a product (y) and the price of the product (x) , and the following estimated regression equation was obtained. ​ = 120 - 10x
​
Based on the above estimated regression equation, if price is increased by 3units, then demand is expected to

• A) increase by 120 units.
• B) decrease by 100 units.
• C) increase by 30 units.
• D) decease by 30 units.

---

Definitions:

Planning Process

A systematic series of steps taken to achieve a specific aim, including goal setting, strategy development, and resource allocation.

Benchmarking

The practice of comparing business processes and performance metrics to industry bests and best practices from other companies.

External Comparisons

The act of evaluating one's performance, practices, or characteristics by measuring them against those of other entities or benchmarks.

Current Performance

The assessment of an organization, employee, or system's present output or results, often compared to past performance or predetermined objectives.