The own-price elasticity of demand for oranges is -4.5. If the price of oranges decreases by 2%, what will happen to the quantity of oranges demanded?...

The own-price elasticity of demand for oranges is -4.5. If the price of oranges decreases by 2%, what will happen to the quantity of oranges demanded?

a. It will rise 9%               b. It will rise 2.25%        c. It will fall 9% d.          It will fall 2.25%

; state your formula and insert the values given to arrive at your answer

Which of the following provides an indication of the total variation explained by the regression relative to the total unexplained variation?

a. P-value     b. Adjusted R-square         c.  t-statistic                d. F-statistic

SHOW YOUR WORK by stating the formula and make your choice