A Regression Analysis Between Sales (In $1000) and Price (In

question 98

Multiple Choice

A regression analysis between sales (in $1000) and price (in dollars) resulted in the following equation  50,000  8x The above equation implies that an

• A)increase of $1 in price is associated with a decrease of $8 in sales
• B)increase of $8 in price is associated with an increase of $8,000 in sales
• C)increase of $1 in price is associated with a decrease of $42,000 in sales
• D)increase of $1 in price is associated with a decrease of $8000 in sales

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Definitions:

Internal Locus of Control

The belief that one's own actions and behaviors are major determinants of life events and outcomes, rather than external forces or chance.

External Locus of Control

The belief that one's successes or failures result from external forces beyond personal control.

Performance Risk

The risk that a product or service will not perform to satisfactory standards, potentially leading to customer dissatisfaction or financial loss.

Reference Group

refers to a group that individuals compare themselves to for self-evaluation, which influences their beliefs, behaviors, and attitudes.