Sales and prices of a new package delivery service

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Reference no: EM13875443

Sales and prices of a new package delivery service offered by a logistics company for the first 29 weeks are given below. Estimate the appropriate demand function for sales using regression analysis to obtain an estimate of price elasticity. What recommendation would you make to the company based on your estimation?

Package Delivery Service

Week	Unit Sales	Price
1	140	5.00
2	195	5.00
3	268	5.00
4	481	5.00
5	411	5.00
6	481	5.00
7	525	8.50
8	527	8.50
9	547	8.50
10	502	8.50
11	511	8.50
12	534	8.50
13	559	10.00
14	575	10.00
15	592	10.00
16	661	10.00
17	764	10.00
18	794	10.00
19	805	11.50
20	745	11.50
21	859	11.50
22	982	11.50
23	987	11.50
24	1034	11.50
25	1090	11.50
26	1156	11.50
27	1194	12.50
28	1370	12.50
29	1304	12.50

Reference no: EM13875443

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