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Dependent variable and the independent variables

Assignment Help Business Economics
Reference no: EM133082305

You have been presented with the following data and asked to fit statisti­cal demand functions:

PERIOD

QUANTITY

PRICE

INCOME

ADVERTISING

1

120

8.00

10

3

2

165

4.00

22

7

3           

120

7.00

20

5

4

165

3.00

20

8

5

180

4.00

30

8

6

90

10.00

19

6

7

150

4.00

18

10.2

8

190

1.60

25

9.3

9

160

5.00

30

8

10

200

2.00

35

9.5

Linear Relationship

  1. Use any multiple regression packages to estimate a linear relationship between the dependent variable and the independent variables. 
  2. Is the estimated demand function "good"? Why or why not?

Non-linear relationship. 

  1. Select and estimate any form of non-linear relationship. 
  2. Is the estimated demand function "good"? Why or why not? Compare with the linear form above. Elaborate.

Reference no: EM133082305

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