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Business Analytics · Quiz 1 · 19 Jul 2026 · May 2026 term

Question 4: Table-1: Price-Demand Data Based on the value of the elas…

Question 4

+1 markOne correct option

(The following comprehension is purely imaginary) The data for the demand of a product (in 1000’s of units) over the past six-months is captured for various prices in Table-1. If the relationship between the price and demand is modelled as a simple linear regression, then answer the given sub-questions

Table-1: Price-Demand Data

(The following comprehension is purely imaginary) The data for the demand of a product (in 1000’s of units) over the pa

Based on the value of the elasticity at a price of Rs. 22.50, what can you conclude?

  1. A

    It is an inelastic product demand

  2. B

    It is an elastic product demand

  3. C

    I don’t know what it is but I want marks for this question (Note: This is not the correct answer, so don’t choose it just because it suits your need :P)

Show answer

Correct answer

  • A

    It is an inelastic product demand

See the whole paperTake it as a mock test

Question 4 of 19 in the IIT Madras BS Business Analytics (Business Analytics) Quiz 1 paper sat on 19 Jul 2026, in the May 2026 term (Business Analytics Indian Institute Of Technology, Madras - Bs In Data Science And Applications 16 Jul 26). It carries 1 mark.

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