MCQ IN COMPUTER SCIENCE & ENGINEERING

Detailed explanation-1: -Regression analysis produces a price elasticity measurement that quantifi es the price sensitivity of consumers with respect to the observed product (Mulhern & Leone). This review focuses on regression analysis using historical market data. Please note that data from other sources (i.e. consumer data) can also be used.

Detailed explanation-2: -On average in 2020, the typical cellphone plan cost $113 per month. 12 The global average smartphone selling price was $363 in 2021 and premium smartphone models can cost $1, 000 or more (Apple’s iPhone 13 Pro goes for $1, 599).

Detailed explanation-3: -2022 began with supply chain issues. There were component shortages, including that of semiconductor chips, whose prices rose. This, in turn, led to an increase in the prices of smartphones by about 15%. Prices could further rise about 30% due to steep inflation.