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 $).The slope coefficient indicates that if ______________.
A) the price of Product A increases by $1,then on average,demand decreases by 20
B) the price of Product A increases by $1,then on average,demand increases by 20
C) the price of Product A increases by $1,then on average,demand decreases by 20,000
D) the price of Product A increases by $1,then on average,demand increases by 20,000

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 $).The slope coefficient indicates that if ______________.
A) the price of Product A increases by $1,then on average,demand decreases by 20 
B) the price of Product A increases by $1,then on average,demand increases by 20 
C) the price of Product A increases by $1,then on average,demand decreases by 20,000 
D) the price of Product A increases by $1,then on average,demand increases by 20,000

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 $).The slope coefficient indicates that if ______________.
A) the price of Product A increases by $1,then on average,demand decreases by 20 
B) the price of Product A increases by $1,then on average,demand increases by 20 
C) the price of Product A increases by $1,then on average,demand decreases by 20,000 
D) the price of Product A increases by $1,then on average,demand increases by 20,000

Consider the Following Sample Regression Equation = 150 -