Quiz Space

Business Analytics · Quiz 2 · 6 Aug 2023 · May 2023 term

Question 1: Latent demand in a demand-response curve is the area obta…

Question 1

+0.5 marksOne correct option

Latent demand in a demand-response curve is the area obtained when

  1. A

    Price is reduced below the identified optimal price

  2. B

    Price is increased beyond the identified optimal price

  3. C

    The optimal price is increased beyond the maximum available price

  4. D

    Quantity is reduced below the identified optimal quantity

Show answer

Correct answer

  • A

    Price is reduced below the identified optimal price

Video solution

The video solution to this question is being recorded and will play here. Until then, the answer key is above.

See the whole paperTake it as a mock test

Question 1 of 19 in the IIT Madras BS Business Analytics (Business Analytics) Quiz 2 paper sat on 6 Aug 2023, in the May 2023 term (IIT M DIPLOMA AN2 EXAM QPD2 06 Aug 2023). It carries 0.5 marks.

This question was also asked in

More questions from this paper

  1. Q2What is the objective function of logistic regression?
  2. Q3How many degrees of freedom are present for the “Residuals” in the ANOVA Table?
  3. Q4How many total degrees of freedom are present for the fitted model in the ANOVA Table?
  4. Q5If no feature engineering was performed, then how many features were present in the dataset?
  5. Q6The relationship between Demand “D” and Selling Price “P” is given by the equation D(p) = 180 – 6P. If the intention is…
  6. Q7Say a demand response curve is modelled as a constant elasticity curve. If Q1 is 2400 units, Q2 is 1500 units, P1 is Rs…
  7. Q8You are solving a regression problem with 8 explanatory variables. The data has 150 observations, and the R-square valu…
  8. Q9What does the term “Multicollinearity” refer to? (Select all that are applicable)
  9. Q10What are the applications of logistic regression?
  10. Q11What is the accuracy of the model?
  11. Q12What is the precision of the model for predicting the positive class?
  12. Q13What is the recall of the model for predicting the positive class?
  13. Q14SUMMARY OUTPUT | Regression Statistics | | |---|---| | Multiple R | 0.442234909 | | R Square | 0.195571715 | | Adjusted…
  14. Q15SUMMARY OUTPUT | Regression Statistics | | |---|---| | Multiple R | 0.442234909 | | R Square | 0.195571715 | | Adjusted…
  15. Q16SUMMARY OUTPUT | Regression Statistics | | |---|---| | Multiple R | 0.442234909 | | R Square | 0.195571715 | | Adjusted…
  16. Q17SUMMARY OUTPUT | Regression Statistics | | |---|---| | Multiple R | 0.442234909 | | R Square | 0.195571715 | | Adjusted…
  17. Q18SUMMARY OUTPUT | Regression Statistics | | |---|---| | Multiple R | 0.442234909 | | R Square | 0.195571715 | | Adjusted…
  18. Q19SUMMARY OUTPUT | Regression Statistics | | |---|---| | Multiple R | 0.442234909 | | R Square | 0.195571715 | | Adjusted…