Regression analysis was applied between demand for a product (Y) and the price of the product (X) ,and the following estimated regression equation was obtained.
= 120 - 10 X
Based on the above estimated regression equation,if price is increased by 2 units,then demand is expected to
A) increase by 120 units
B) increase by 100 units
C) increase by 20 units
D) decease by 20 units
Correct Answer:
Verified
Q21: In regression and correlation analysis, if SSE
Q23: In a regression analysis if SSE =
Q24: Correlation analysis is used to determine
A)the equation
Q25: SSE can never be
A)larger than SST
B)smaller than
Q26: The coefficient of correlation
A)is the square of
Q32: In regression analysis, the independent variable is
A)used
Q34: If the coefficient of correlation is 0.8,
Q35: In regression analysis, if the independent variable
Q37: If the coefficient of correlation is a
Q39: If the coefficient of determination is equal
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents