Weekly data collected on a particular beverage brand used the price of beverage to predict the...
Weekly data collected on a particular beverage brand used the price of beverage to predict the number of units sold. A simple linear regression model is given as y=2259-1418x. The ANOVA F test p-value=0.000, and r 2 = .597. Which is the best interpretation of the slope of the line
Group of answer choices
As the price increasess by 1 dollar, sales will increase on average by 2259
As the price increases by 1 dollar, sales will decrease, on average by 1418
As the sales increase by 1 unit, the price will increase, on average by 2259 dollars
As the sales increase by 1 unit, the price will decrease, on average by 1418
Homework Answers
Slope =-1418 (Negative value)
As the price increases by 1 dollar, sales will decrease, on average by 1418
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