Consider the following sample regression equation = 200 + 10x, where y is the supply for Product A (in 1,000s) and x is the price of Product A (in $). If the price of Product A increases by $3, then we expect the supply for Product A to ________.
A) increase by 30
B) decrease by 30
C) increase by 30,000
D) decrease by 30,000

Question

Consider the following sample regression equation  = 200 + 10x, where y is the supply for Product A (in 1,000s) and x is the price of Product A (in $). If the price of Product A increases by $3, then we expect the supply for Product A to ________.
A) increase by 30 
B) decrease by 30 
C) increase by 30,000 
D) decrease by 30,000

Quizplus · Accepted Answer

The Answer of Consider the following sample regression equation  = 200 + 10x, where y is the supply for Product A (in 1,000s) and x is the price of Product A (in $). If the price of Product A increases by $3, then we expect the supply for Product A to ________.
A) increase by 30 
B) decrease by 30 
C) increase by 30,000 
D) decrease by 30,000

Consider the Following Sample Regression Equation = 200