Solved

Selling Price and Amount Spent Advertising Were Entered into a Multiple

Question 35

Multiple Choice

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:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents