Application of simple linear regression analysis to the estimation of a demand equation has yielded the following:
Q = 24 - 2P
If the current product price is P = $6 and the quantity sold per time period is Q = 10, then the error (e) for the current time period is equal to
A) 1.
B) -1.
C) 2.
D) -2.

Question

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The Answer of Application of simple linear regression analysis to the estimation of a demand equation has yielded the following:
Q = 24 - 2P
If the current product price is P = $6 and the quantity sold per time period is Q = 10, then the error (e) for the current time period is equal to
A) 1.
B) -1.
C) 2.
D) -2.

Application of Simple Linear Regression Analysis to the Estimation of a Demand