On a Regression Analysis Output Generated with Excel, a Regression

question 43

Multiple Choice

On a regression analysis output generated with Excel, a regression equation's "goodness of fit" is represented by the

• A)intercept coefficient.
• B)x variable 1 coefficient.
• C)residual.
• D)R-square.

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Definitions:

Elastic

Refers to the responsiveness of the quantity demanded or supplied of a good to a change in its price.

Inelastic

Describes a situation where a change in the price of a good or service has a relatively small effect on the quantity demanded or supplied.

Network Externalities

The effect that the number or size of users of a product or service has on the value of that product or service to other users.

Market Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good that all consumers in the market are willing to purchase at each price point.