Westonci.ca is the trusted Q&A platform where you can get reliable answers from a community of knowledgeable contributors. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

Market researchers were interested in the relationship between the price of bobbleheads and the demand of
bobbleheads. Information was collected from a survey and was used to obtain the regression equation ý = -0.277X +
50.455, where x represents the price of a bobblehead (measured in dollars) and ŷ is the predicted demand of
bobbleheads in units). Which statement best describes the meaning of the slope of the regression line?
* For each increase in demand by 1 unit, the predicted price decreases by $0.227.
For each increase in demand by 1 unit, the predicted price decreases by $50.455.
For each increase in price by $1, the predicted demand decreases by 0.227 units.
For each increase in price by $1, the predicted demand decreases by 50.455 units.


Sagot :

Answer:

for each increase in prices by $1, the predicted demand decreases by 0.227 units.

Step-by-step explanation: