Cooperating them in the regression analysis

Assignment Help Managerial Economics
Reference no: EM13759790

YOU are the manager of large automobile dealership who wants to learn more about the effectiveness of various discounts offered to customers over the past 14 months .Following are the average negotiated prices for each month and quantities sold of a basic model (adjusted for various option ) over this period of time .

 A) Graph this information on a scatter plot.Estimate the demand equation . What do the regression results indicate about the desirability of discounting price ?Explain  

  
Month Price Quantity
Jan 12500 15
Feb 12200 17
Mar 11900 16
Apr 12000 18
May 11800 20
Jun 12500 18
Jul 11700 22
Aug 12100 15
Sep 11400 22
Oct 11400 25
Nov 11200 24
Dec 11000 30
Jan 10800 25
Feb 10000 28

 B) What other factors beside price might be included in this equations ? Do you foresee any difficulties in obtaining thees additional data or in cooperating them in the regression analysis?

Reference no: EM13759790

Questions Cloud

Cost associated with patenting a product : There is a cost associated with patenting a product, and some companies produce more than one new product in a month. The products might have a short life (6 months to two years). Products with short life cycles normally are simple and easy to copy.
Inventory costing and periodic : Redster Company is a manufacturing firm. Presented below is information concerning one of its products, called Ander. Using an Excel spreadsheet, compute the cost of goods sold under the following situations:
What is scientific management-corporate responsibility : Briefly discusses the four levels of corporate responsibility using Carroll's Global Corporate Social Responsibility pyramid. What is Scientific Management? Write the four principle of Scientific Management. What do you mean by stakeholders and expla..
Process a weighted undirected graph : Set up and print the adjacency matrix representation of the Graph.
Cooperating them in the regression analysis : What other factors beside price might be included in this equations ? Do you foresee any difficulties in obtaining thees additional data or in cooperating them in the regression analysis?
What might salary surveys have to do with pay discrimination : What might salary surveys have to do with pay discrimination? What can we do to avoid this problem? (This question relates to external surveys - not employee surveys.)
Community of stakeholders inside and outside organization : What do you mean by stakeholders and explain the community of stakeholders inside and outside the Organization. ?
What are the potential drawbacks to materialize : To the degree job growth (and increased car sales that come from more competitive labor costs) is based on two tier-wage structures, how sustainable is the approach? Consider, for example, that Fiat and Chrysler CEO Sergio Marchionne stated that "Lon..
Technology impact on human resources : THREE advantages and THREE disadvantages to utilizing Applicant Tracking Systems. Next, suggest TWO potential solutions for improving Human Resource Information Systems operations.

Reviews

Write a Review

Managerial Economics Questions & Answers

  Linear programming problem

Linear programming is a mathematical technique used to determine the optimal solutions to certain specific problems.

  Demand, supply and the market equilibrium

The article study for the demand, supply and the market equilibrium has been discussed. The article that has been review was published on August 2012.

  Supply and demand in professional sports

Draw the individual cost curves on one graph: marginal cost, average total cost, average ?xed cost, and average variable cost. Place costs ($) on the y-axis and quantity (Q) on the x-axis.

  Explain whether the firm will make economic profit

Explain whether the firm will make economic profit, In the short run and In the long run.

  Determine the official measure of the deficit

Determine the official measure of the deficit

  Coordination of the activities of a business

The organization and coordination of the activities of a business in order to achieve defined objectives.

  What is the profit maximizing number of gizmo widgets

What is the profit maximizing number of Gizmo Widgets that should be introduced? Be sure to account for the fact that Gizmo Widgets displace other kinds of widgets. Again, be sure you provide a brief explanation of your approach/reasoning.

  Determine autocorrelation function of a rectangular pulse

Prepare the sketch the Fourier transform of a rectangular pulse of amplitude 10 V and width 0.1 second that is centered on the zero time axis. Determine the autocorrelation function of a rectangular pulse.

  Managerial economics assignment

Carry out an analysis from the standpoint of both EMV and expected utility to establish Jeremiah’s best course of action, including a consideration of his bidding strategy with regard to the auction.

  Prepare a marginal cost analysed income statement for 2014

Prepare a Marginal Cost Analysed Income Statement for 2014 from the above data to identify total and individual medical procedure contributions and profits.

  Prepare a marginal cost analysed income statement for 2014

Prepare a Marginal Cost Analysed Income Statement for 2014 from the above data to identify total and individual medical procedure contributions and profits.

  Solve managerial economics questions

MGMT 3306: Solve the assignment problems, 1. Please answer the assignment questions in this docx file and save once you’re satisfied. Assignment 3covers the lectures slides for Week 6.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd