Describe the data matrix that would be likely to sufficient

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Reference no: EM132721678

The managers of a company that leases trucks to shipping companies and other business customers are considering increasing their leasing fees. In order to evaluate this increase, they have asked you to estimate the price elasticity of their product based on historical data.

Problem (a) By labeling rows and columns, describe the data matrix that would be likely to be sufficient for calculating this estimate.

Problem (b) What would you ask the company's managers regarding past price variation?

Problem (c) Describe how you would go about obtaining the data specified in your data matrix.

Reference no: EM132721678

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