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

question 123

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
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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.

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Definitions:

Suggestive Selling

A sales technique where the seller offers additional products or services to the customer, often based on their initial purchase.

Cold Canvassing

The technique of directly approaching individuals or businesses, without prior contact, to sell goods or services.

Toll-free Numbers

Telephone numbers that allow callers to reach businesses or individuals without being charged for the call, often used for customer service or sales.

Lead

A prospective customer who has shown interest in a product or service, potentially leading to a sale.