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A Regression Analysis Between Demand (Y in 1000 Units) and Price

Question 56

Multiple Choice

A regression analysis between demand (Y in 1000 units) and price (X in dollars) resulted in the following equation A regression analysis between demand (Y in 1000 units) and price (X in dollars) resulted in the following equation = 9 - 3X The above equation implies that if the price is increased by $1, the demand is expected to A) increase by 6 units B) decrease by 3 units C) decrease by 6,000 units D) decrease by 3,000 units = 9 - 3X The above equation implies that if the price is increased by $1, the demand is expected to


A) increase by 6 units
B) decrease by 3 units
C) decrease by 6,000 units
D) decrease by 3,000 units

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