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Business Analytics · End Term · 13 Apr 2025 · January 2025 term · Set QDD1

Question 12: (The following is a purely imaginary scenario)\ A demand…

Question 12

+0.5 marksOne correct option

(The following is a purely imaginary scenario)
A demand response curve is modelled using linear regression. The partial regression output is given in Figure-1 below. Given this information, answer the subquestions.

ANOVA

dfSS
Regression7076613
Residual
Total97184891
CoefficientsStandard Error
Intercept39942
X Variable 1-29.5

Figure-1

Based on the elasticity, which of the following statements are TRUE

  1. A

    The demand is elastic

  2. B

    The demand is inelastic

  3. C

    The price is elastic

  4. D

    The price is inelastic

Show answer

Correct answer

  • B

    The demand is inelastic

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Question 12 of 33 in the IIT Madras BS Business Analytics (Business Analytics) End Term paper sat on 13 Apr 2025, in the January 2025 term (IIT M DIPLOMA AN EXAM QDD3 13 Apr 2025). It carries 0.5 marks.

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