Chrome File Edit View History Bookmarks People Window Help M Problem Set #4 New

Question

Chrome File Edit View History Bookmarks People Window Help M Problem Set #4 New Tab ezto mheducation.com hm.tpx Question 2 (of 20) 2. 0.50 points The fitted regression is Sales 964 29.3 Price. (a-1) If Price -1, what is the prediction for Sales? (Round your answer to 1 decimal place Sales (a-2) Choose the correct statement. O An increase in price decreases sales O An increase in price increases sales O A decrease in price decreases sales (b) If Price 16, what is the prediction for Sales? (Round your answer to the nearest whole number.) Sales (c) Choose the right option. O The intercept is meaningful as sales will be maximized when price is zero. O The intercept is not meaningful as a zero price is both unrealistic and unobserved Hints References eBook & Resources Hint #1 Check my work 90% Thu 10 Dec 13:03:37 L a E Save & Exit submit

Explanation / Answer

At Price=1

=964-29.3 = 934.7

An increase in price will lead to decrease in sales

At price = 16

=964-29.3*16 =495.2

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.