Big Poppa's BBQ Sandwiches is a local restaurant specializing in BBQ sandwiches. Using Excel, Big Poppa's estimates the weekly demand function for its BBQ sandwiches to be Qd = 1,576.55 - (25.50 × P) . The estimated regression equation suggests which of the following is true?
A) The intercept of the demand equation is - 25.50.
B) If a price of $5 a sandwich is charged, the predicted quantity of sandwiches demanded is 1,449.05.
C) The intercept of the demand equation is 25.50.
D) If a price of $10 a sandwich is charged, the predicted quantity of sandwiches demanded is 1,576.55.
Correct Answer:
Verified
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