A regression analysis between sales (in $1000) and price (in dollars) resulted in the following equation: = 40 - 6x

The above equation implies that an
A) increase of $1 in price is associated with a decrease of $6 in sales.
B) increase of $8 in price is associated with a decrease of $24,000 in sales.
C) increase of $1 in price is associated with a decrease of $240 in sales.
D) increase of $1 in price is associated with a decrease of $6000 in sales.

Question

A regression analysis between sales (in $1000) and price (in dollars) resulted in the following equation: ​  = 40 - 6x
​
The above equation implies that an
A) increase of $1 in price is associated with a decrease of $6 in sales. 
B) increase of $8 in price is associated with a decrease of $24,000 in sales. 
C) increase of $1 in price is associated with a decrease of $240 in sales. 
D) increase of $1 in price is associated with a decrease of $6000 in sales.

Quizplus · Accepted Answer

The Answer of A regression analysis between sales (in $1000) and price (in dollars) resulted in the following equation: ​  = 40 - 6x
​
The above equation implies that an
A) increase of $1 in price is associated with a decrease of $6 in sales. 
B) increase of $8 in price is associated with a decrease of $24,000 in sales. 
C) increase of $1 in price is associated with a decrease of $240 in sales. 
D) increase of $1 in price is associated with a decrease of $6000 in sales.

A Regression Analysis Between Sales (In $1000) and Price (In