A regression analysis between sales (in $1000) and price (in dollars) resulted in the following equation = 60 - 8X
The above equation implies that an
A)increase of $1 in price is associated with a decrease of $8 in sales
B)increase of $8 in price is associated with an decrease of $52,000 in sales
C)increase of $1 in price is associated with a decrease of $52 in sales
D)increase of $1 in price is associated with a decrease of $8000 in sales

Question

A regression analysis between sales (in $1000) and price (in dollars) resulted in the following equation   = 60 - 8X
The above equation implies that an
A)increase of $1 in price is associated with a decrease of $8 in sales 
B)increase of $8 in price is associated with an decrease of $52,000 in sales 
C)increase of $1 in price is associated with a decrease of $52 in sales 
D)increase of $1 in price is associated with a decrease of $8000 in sales

Quizplus · Accepted Answer

The Answer of A regression analysis between sales (in $1000) and price (in dollars) resulted in the following equation   = 60 - 8X
The above equation implies that an
A)increase of $1 in price is associated with a decrease of $8 in sales 
B)increase of $8 in price is associated with an decrease of $52,000 in sales 
C)increase of $1 in price is associated with a decrease of $52 in sales 
D)increase of $1 in price is associated with a decrease of $8000 in sales

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