A regression model between sales (y in $1000), unit price (x1 in 100 dollars), and television...
A regression model between sales (y in $1000), unit price (x1 in
100 dollars), and television advertisement (x2 in dollars) resulted
in the following function:
ŷ = 7 - 3x1 + 5x2
The coefficient of the unit price indicates that if the unit price
is:
|
increased by $100 and holding advertisement constant, sales are expected to decrease by $3. |
|
|
decreased by $1000 and holding advertisement constant, sales are expected to decrease by $3. |
|
|
increased by $100 and holding advertisement constant, sales are expected to decrease by $3000. |
|
|
increased by $100 and holding advertisement constant, sales are expected to increase by $5000. |
Homework Answers
Option 3 is correct.
Because unit price has negative three coefficient so that it shows that if unit price increases then sales will decreases.
Add Answer to:
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