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    Regression analysis

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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. Y = 130 - 20 X
    Based on the above estimated regression equation, if the price is increased by 2 units, then demand is expected to

    decrease by 90 units
    increase by 40 units
    increase by 130 units
    decrease by 40 units
    increase by 150 units

    © BrainMass Inc. brainmass.com June 3, 2020, 9:22 pm ad1c9bdddf

    Solution Preview

    decrease by 40 units

    From the slope ...

    Solution Summary

    Step by step method for regression analysis is discussed here. Regression coefficients, coefficient of determination, scatter diagram and significance of regression model are explained in the solution.