A Regression Analysis Between Sales (In $1000)and Price (In Dollars)resulted

A regression analysis between sales (in $1000) and price (in dollars) resulted in the following equation

= 60 - 8X
The above equation implies that an

A) increase of $1 in price is associated with a decrease of $8 in sales
B) increase of $8 in price is associated with an decrease of $52,000 in sales
C) increase of $1 in price is associated with a decrease of $52 in sales
D) increase of $1 in price is associated with a decrease of $8000 in sales

Correct Answer:

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