Regression analysis was applied between Y = demand for a product (in units), and
ID: 3323389 • Letter: R
Question
Regression analysis was applied between
Y = demand for a product (in units), and
X = the price of the product (in dollars).
Based on the above estimated regression equation, if price is increased by 2 dollars, then demand is expected to
increase by 8,000 units
decrease by 8 units
decrease by 8,000 units
increase by 8 units
3 points
QUESTION 34
In a regression analysis, if SST = 900 and SSR = 450, then the coefficient of determination equals
0.45
0.50
2.00
2.50
a.increase by 8,000 units
b.decrease by 8 units
c.decrease by 8,000 units
d.increase by 8 units
Explanation / Answer
33) Option-D) increase by 8 units
34) coefficient of determination = SSR / SST = 450 / 900 = 0.5
Option-B) 0.5