The Estimated Regression Equation Is Y = 10 + 2

question 34

Multiple Choice

The estimated regression equation is Y = 10 + 2.5X,if X =0 than the predicted value of Y is equal to:

• A)12.5
• B)10
• C)2.5
• D)7.5

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Definitions:

Utility

In economics, the total satisfaction received from consuming a good or service.

Income

Earnings received by a person or entity, typically through work, investments, or business ventures, over a specified period.

Consumer Equilibrium

The point at which the quantity of goods consumed by the consumer provides the maximum satisfaction, making utility maximization with budget constraints.

Total Utility

The complete fulfillment derived from the consumption of a specific amount of products or services.