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

question 26

Multiple Choice

A regression analysis between demand (Y in 1000 units) and price (X in dollars) resulted in the following equation



= 9 - 3X
The above equation implies that if the price is increased by $1,the demand is expected to

• A)increase by 6 units
• B)decrease by 3 units
• C)decrease by 6,000 units
• D)decrease by 3,000 units

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