Consider the following sample regression equation = 150 - 20x, where y is the demand for Product A (in 1,000s) and x is the price of the product (in $). If the price of the good increases by $3, then we expect demand for Product A to ________.
A) increase by 60
B) decrease by 60
C) decrease by 60,000
D) increase by 60,000

Question

Consider the following sample regression equation  = 150 - 20x, where y is the demand for Product A (in 1,000s) and x is the price of the product (in $). If the price of the good increases by $3, then we expect demand for Product A to ________.
A) increase by 60 
B) decrease by 60 
C) decrease by 60,000 
D) increase by 60,000

Quizplus · Accepted Answer

The Answer of Consider the following sample regression equation  = 150 - 20x, where y is the demand for Product A (in 1,000s) and x is the price of the product (in $). If the price of the good increases by $3, then we expect demand for Product A to ________.
A) increase by 60 
B) decrease by 60 
C) decrease by 60,000 
D) increase by 60,000

Consider the Following Sample Regression Equation = 150 -