Applied between demand for a product


Regression anaylsis was applied between demand for a product (Y) and the price of the product (X) and the following estimated regression line was obtained; Y = 120 - 10X. Based on the above regression equation, if the price is increased by 2 units, then the demand is expected to

a decrease by 100 units

b increase by 100 units

c increase by 20 units

d decrease by 20 units

e none of the above

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Basic Statistics: Applied between demand for a product
Reference No:- TGS0741173

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