A regression analysis between sales (in $1000) and price (in dollars) resulted in the following equation:
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= 40 - 6x
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The above equation implies that an
A. increase of $1 in price is associated with a decrease of $6 in sales.
B. increase of $8 in price is associated with a decrease of $24,000 in sales.
C. increase of $1 in price is associated with a decrease of $240 in sales.
D. increase of $1 in price is associated with a decrease of $6000 in sales.
Answer: D
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