Question 6 (1 point)

A multiple regression analysis based on a data set that consists of 30 observations yielded the following estimated demand equation: Q = 120 - 1.1P + 0.04I + 0.90A where P is price, I is income, and A is advertising. If price is equal to $1,000, income is equal to $20,000, and advertising expenditures are equal to $5,000, then the predicted quantity demanded (Q) is

Question 6 options:

a)

8,015.

b)

6,520.

c)

4,320.

d)

2,769