Question: A B C D E F G H Pr 20 1 2 3 4 29 31 35 29 onun 30 7 Quantity of Automobile Lube

A B C D E F G H Pr 20 1 2 3 4 29 31 35 29 onun 30

A B C D E F G H Pr 20 1 2 3 4 29 31 35 29 onun 30 7 Quantity of Automobile Lube Jobs Q P # Cars Adv 86 30 22.0 500 87 35 23.0 550 93 28 23.4 430 92 25 23.0 400 86 30 23.6 500 93 20 24.0 400 88 29 24.1 300 89 31 24.5 450 88 35 25.0 430 93 29 25.6 500 87 35 26.0 400 89 40 26.0 570 88 47 26.7 82 34 27.3 300 93 35 28.0 450 35 8 28 9 25 10 30 29 11 12 520 13 14 31 35 29 15 35 1. Run the data through Excel Regression - print output (10%) Evaluate the statistical significance of the equation and each of the parameters - (10%) Generate the specific form of the equation using average values of the original data (5%) Calculate the inverse form of the demand equation (5%) Calculate the elasticity coefficients of each of the parameters using the function and average values of the dataset (20%) Using the own-price elasticity you calculated in #5 above what effect would a price increase have on total revenue (10%) A B C D E F G H Pr 20 1 2 3 4 29 31 35 29 onun 30 7 Quantity of Automobile Lube Jobs Q P # Cars Adv 86 30 22.0 500 87 35 23.0 550 93 28 23.4 430 92 25 23.0 400 86 30 23.6 500 93 20 24.0 400 88 29 24.1 300 89 31 24.5 450 88 35 25.0 430 93 29 25.6 500 87 35 26.0 400 89 40 26.0 570 88 47 26.7 82 34 27.3 300 93 35 28.0 450 35 8 28 9 25 10 30 29 11 12 520 13 14 31 35 29 15 35 1. Run the data through Excel Regression - print output (10%) Evaluate the statistical significance of the equation and each of the parameters - (10%) Generate the specific form of the equation using average values of the original data (5%) Calculate the inverse form of the demand equation (5%) Calculate the elasticity coefficients of each of the parameters using the function and average values of the dataset (20%) Using the own-price elasticity you calculated in #5 above what effect would a price increase have on total revenue (10%)

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