Given an Equation Q = 20 - 3P, Which of the Following

question 94

Multiple Choice

Given an equation Q = 20 - 3P, which of the following statements is likely to be true?

• A) A plot of the equation will result in a graph with a positive slope.
• B) A positive relationship exists between P and Q.
• C) Every time P increases by one unit, Q falls by three units.
• D) P and Q exhibit a non-linear relationship.

---

Definitions:

Fit Distribution

The process of determining which probability distribution best matches a set of data.

Bootstrap Tool

A statistical method used for estimating the distribution of a statistic by resampling with replacement from the original data.

Lowest Average Profit

The minimum average profit realized over a specified period.

Purchase Quantity

The number of units of a product that consumers buy over a specified period.