Selling price and amount spent advertising 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 amount spent on advertising, a $100 increase in price of the Sony Bravia is associated with a decrease in sales of 3.055 units, on average.
C) Holding the amount spent on advertising constant, an increase of $100 in the price Of the Sony Bravia will decrease sales by 3.055 units.
D) Holding the amount spent on advertising 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
Q26: Selling price and amount spent advertising
Q27: Selling price and amount spent advertising
Q28: Selling price and amount spent advertising
Q29: Selling price and amount spent advertising
Q30: Selling price and amount spent advertising were
Q31: Selling price and amount spent advertising
Q32: A sample of 33 companies was randomly
Q33: Selling price and amount spent advertising
Q34: Selling price and amount spent advertising were
Q36: A sample of 33 companies was randomly
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