A Regression Analysis Between Demand (Y in 1000 Units) and Price

question 73

Multiple Choice

A regression analysis between demand (y in 1000 units) and price (x in $) resulted in the following equation: estimated Y = 9 - 5x.This equation implies that if the price is increased by $1, the demand is expected to

• A)increase by 9000-5000 = 4000 units
• B)decrease by 9000 units
• C)decrease by 9000 + 5000 = 14,000 units
• D)decrease by 5,000 units
• E)none of the above

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