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
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