A regression analysis between demand (y in 1000 units) and price (x in dollars) resulted in the following equation: = 9 - 4x

The above equation implies that if the price is increased by $1, the demand is expected to
A) increase by 5 units.
B) decrease by 4 units.
C) decrease by 5000 units.
D) decrease by 4000 units.

Question

A regression analysis between demand (y in 1000 units) and price (x in dollars) resulted in the following equation: ​  = 9 - 4x
​
The above equation implies that if the price is increased by $1, the demand is expected to
A) increase by 5 units. 
B) decrease by 4 units. 
C) decrease by 5000 units. 
D) decrease by 4000 units.

Quizplus · Accepted Answer

The Answer of A regression analysis between demand (y in 1000 units) and price (x in dollars) resulted in the following equation: ​  = 9 - 4x
​
The above equation implies that if the price is increased by $1, the demand is expected to
A) increase by 5 units. 
B) decrease by 4 units. 
C) decrease by 5000 units. 
D) decrease by 4000 units.

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