A regression analysis between sales (in $1000s) and price (in dollars) resulted in the following equation:
= 50,000 − 8x
The above equation implies that an increase of _____.
Group of answer choices
$1 in price is associated with a decrease of $8 in sales
$8 in price is associated with an increase of $8,000 in sales
$1 in price is associated with a decrease of $42,000 in sales
$1 in price is associated with a decrease of $8,000 in sales