THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 134

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A professor of statistics is interested in studying the relationship between the number of hours graduate students spent studying for his comprehensive final exam and the exam score.The results of the regression analysis of hours studied on exam scores are presented below.
-Which of the following is true of the least squares equation, = 20 + 5x?

• A)The y-intercept of the least squares line is 5.
• B)For each unit increase in x,the value of y approximately increases by 5.
• C)For each unit increase in y,the value of x approximately increases by 20.
• D)For each unit increase in y,the value of x approximately increases by 25.

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Definitions:

Barriers To Entry

Elements that obstruct or impede the ability of businesses to penetrate a particular market or sector.

Elasticity Coefficient

The elasticity coefficient measures how much the quantity demanded or supplied of a good responds to a change in one of its determinants, such as price, income, or the price of related goods.

Perfectly Elastic

Describes a market situation where demand or supply can change infinitely with even the slightest change in price.

Demand Schedule

A table that shows the quantity of a good or service that consumers are willing and able to purchase at each price point.