Statistical package to run a regression

Reference no: EM133367657

Suppose the demand curve of a good is P = a - bQ, with a > 0 and b > 0. When the unit prices are $1.9, 1.35, 1.25, 1.20, 0.95, 0.85, 0.73, 0.25, the quantities that are demanded (Qd) in the market are 1.5, 2.2, 4.4, 5.9, 6.5, 7.0, 8.8, and 10.1 units, respectively.

Under ordinary least square (OLS), use Excel or any statistical package to run a regression to estimate the coefficients of a and b, with P on the vertical axis and Q on the horizontal axis. You must show your results of regression

Reference no: EM133367657

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