= 130 − 20x Based on the above estimated regression equation, if price is increased by 5 units, then demand is expected to decrease by 100 units. decrease by 20 units. increase by 100 units increase by 130 units.
= 130 − 20x Based on the above estimated regression equation, if price is increased by 5 units, then demand is expected to decrease by 100 units. decrease by 20 units. increase by 100 units increase by 130 units.
Chapter4: Linear Functions
Section4.3: Fitting Linear Models To Data
Problem 34SE: For the following exercises, consider this scenario: The profit of a company decreased steadily...
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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.
ŷ = 130 − 20x
Based on the above estimated regression equation, if price is increased by 5 units, then demand is expected to
decrease by 100 units.
decrease by 20 units.
increase by 100 units
increase by 130 units.
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