Selling price and percent of advertising budget spent were entered into a multiple regression to determine what affects flat panel LCD TV sales.The regression coefficient for Price was
Found to be -0.03055, which of the following is the correct interpretation for this value?
A) Increasing the price of the Sony Bravia by $100 will result in at least 3 fewer TV's sold.
B) For a given percent of advertising budget spent, a $100 increase in price of the Sony Bravia is associated with a decrease in sales of 3.055 units, on average.
C) After allowing for the percent of advertising budget spent on advertising, an increase of $100 in the price of the Sony Bravia will decrease sales by 3.055 units.
D) Holding the percent of advertising budget spent constant, an increase of $100 in the price of the Sony Bravia will decrease sales by .03%.
E) None of the above.
Correct Answer:
Verified
Q4: Selling price and percent of advertising
Q5: Which of the following statements about partial
Q6: A multiple regression model was used
Q8: A sample of 33 companies was
Q8: In regression an observation has high leverage
Q10: Using the output below, calculate the
Q11: Partial regression plots are useful for which
Q12: Selling price and percent of advertising
Q13: Which of the following are NOT assumptions
Q14: A sample of 33 companies was
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents