How many canscapitayear on soft drink must be for the state

Reference no: EM13387926

Demand can be estimated with experimental data, time-series data, or cross-section data. In this case, cross-section data appear in the Excel file. Soft drink consumption in cans per capita per year is related to six-pack price, income per capita, and mean temperature across the 48 contiguous states in the United States.

QUESTIONS

1. Given the data, please construct a multiple linear regression program by MS Excel.

2. Interpret each coefficient of independent variable in the soft drink demand estimated function in question 1.

3. Given your answer in question 1, please comment on whether the regression estimated function is a good fit or not. What is the interpretation of coefficient of determination (R-square)? May we use the estimated function to predict for the future demand? Explain why.

4. How many cans/capita/year on soft drink should be for a state in which 6-pack price=$1.95, Income/Capita=$23,500, and Mean Temp= 68°F?

5. Now omit the price and temperature from the regression equation. Should a marketing plan for soft drinks be designed that relocates most canned drink machines into low-income neighborhoods? Why or why not?

Reference no: EM13387926

Questions Cloud

Abc has total sales of 184 assets of 101 return on equity : 1. abc has total sales of 184 assets of 101 return on equity of 30 and net profit margin of 7. what is the debt

Which statement is normally prepared : which statement is normally prepared first?income statementbalance sheetstatement of cash flowsretained earnings

The sales revenue generated throughoutnbsp the normal : the sales revenue generated throughoutnbsp the normal course of business would be an example of which type of business

Drawing on all of the data you have collected so far : drawing on all of the data you have collected so far prepare a personal leadership development plan pldp. the elements

How many canscapitayear on soft drink must be for the state : demand can be estimated with experimental data time-series data or cross-section data. in this case cross-section data

Compute the amount of the projected benefit obligation at : on january 1 of the current reporting year coda companys projected benefit obligation was 30 million. during the year

Do you agree with owners that training is required explain : providing the highest-quality products and the highest level of customer service are two of the core values of michaels

Discuss the reasons for converting sql queries into : 1. what a query execution plan?2. discuss the reasons for converting sql queries into relational algebra queries before

The hall dental supply company sells at 32 per share and : 1. what is meant by intrinsic value? how is it determined?2. the hall dental supply company sells at 32 per share and

User Account

All Pages