QUESTION 33 Regression analysis was applied between Y- demand for a product (in

Question

QUESTION 33 Regression analysis was applied between Y- demand for a product (in units), and X-the price of the product (in dollars). The following estimated regression equation was obtained: 1,000+4x Based on the above estimated regression equation, if price is increased by 1 dollar, then demand is expected to Oa increase by 4 units Ob decrease by 4 units O decrease by 4,000 units Od increase by 4,000 units QUESTION 34 equals In a regression analysis, if SST-900 and SSR-450, then the coefficient of o a 0.45 O b o.so o2.00 od 2.50 OType here to search

Explanation / Answer

Y = 1000 +4X , Y-1000/4=X

Dy= 4 Dx

If 1 Unit Price is increased by 1 unit tan 4 Unit of demand is increased (Option A)

2)

Coefficient of Determination = SSR/SST

SSR = 450

SST = 900

Coefficient of determination = 450/900 =1/2 = 0.50 (option B )

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