A regression analysis between sales in $1000) and price in dollars) resulted in the following equation = 60 - 8X
$\hat { Y }$ 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

Quizplus · Accepted Answer

The Answer of A regression analysis between sales in $1000) and price in dollars) resulted in the following equation = 60 - 8X
$\hat { Y }$ 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 Dollars)