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Business Analytics · End Term · 28 Apr 2024 · January 2024 term

Question 20: ANOVA | | df | SS | |---|---|---| | Regression | | 17970…

Question 20

+0.5 marksOne correct option

A demand response curve is built using linear regression. The partial regression output is given in Figure-1 below. Given this information, answer the given subquestions.

ANOVA

dfSS
Regression179700.8
Residual
Total18200679.7
CoefficientsStandard Error
Intercept912.8670899
Price-3.836221412

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

  • A

    The demand is elastic

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Question 20 of 32 in the IIT Madras BS Business Analytics (Business Analytics) End Term paper sat on 28 Apr 2024, in the January 2024 term (IIT M FOUNDATION DIPLOMA AN EXAM QDF3 28 Apr 2024). It carries 0.5 marks.

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