Selling Price and Percent of Advertising Budget Spent Were Entered

question 1

Multiple Choice

Selling price and percent of advertising budget spent were entered into a multiple regression to determine what affects flat panel LCD TV sales.The regression coefficient for Price was
Found to be -0.03055, which of the following is the correct interpretation for this value?

• A)Increasing the price of the Sony Bravia by $100 will result in at least 3 fewer TV's sold.
• B)For a given percent of advertising budget spent, a $100 increase in price of the Sony Bravia is associated with a decrease in sales of 3.055 units, on average.
• C)After allowing for the percent of advertising budget spent on advertising, an increase of $100 in the price of the Sony Bravia will decrease sales by 3.055 units.
• D)Holding the percent of advertising budget spent constant, an increase of $100 in the price of the Sony Bravia will decrease sales by .03%.
• E)None of the above.

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