Consider the Following Sample Regression Equation = 200

question 138

Multiple Choice

Consider the following sample regression equation = 200 + 10x, where y is the supply for Product A (in 1,000s) and x is the price of Product A (in $) . The slope coefficient indicates that if ________.

• A) the price of Product A increases by $1, then we predict the supply to decrease by 10
• B) the price of Product A increases by $1, then we predict the supply to increase by 10
• C) the price of Product A increases by $1, then we predict the supply to decrease by 10,000
• D) the price of Product A increases by $1, then we predict the supply to increase by 10,000

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Definitions:

Motivation

The method that starts, directs, and sustains actions aimed at achieving goals.

Needs-Hierarchy

A theory in psychology proposed by Abraham Maslow, suggesting that people are motivated by five basic categories of needs: physiological, safety, love, esteem, and self-actualization, in that order.

21st Century

The period extending from January 1, 2001, to December 31, 2100, characterized by rapid advancements in technology, globalization, and changing social norms.

Maslow

Refers to Abraham Maslow, a psychologist known for creating Maslow's hierarchy of needs, a theory of psychological health predicated on fulfilling innate human needs.