Question: Input the following data into Excel. Or, you may open the Regression Homework Q1 data Excel file Assume that Q = quantity of pizza, Price

Input the following data into Excel.

Or, you may open the Regression Homework Q1 data Excel file

Assume that Q = quantity of pizza, Price = price of pizza (in cents), Tuition = tuition (in thousands of dollars), Price of Soft Drink = price of soft drinks (in cents):

QPriceTuitionPrice of Soft Drink

1010014120

121001695

13908110

1495790

911011100

81255100

412512125

315010150

158018100

12801290

1390680

15100575

1211013100

1011010125

1012514130

121101580

1115016 90

121001295

1015012100

81601090

91501395

1013515100

111251695

1210017100

137510100

1010012110

91106125

81251090

8150580

41001095

a)Estimate the linear demand function with Q as the dependent variable and Price as the independent

variable. Comment fully on the results and discuss the identification problem.

b)Estimate the linear demand function with Q as the dependent variable and Price, Tuition, Price of Soft

Drinks, as the independent variables. Comment fully on the results.

c)Take the natural logarithm of all the variables and estimate the new demand function. Comment fully on

the results. What is the value of the price elasticity of demand? What is the value of the cross-price

elasticity of demand?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

I NEED HELP WITH DISCUSSION PORTION> MY PROFESSOR COMMENTS IN BOLD. WHAT I WROTE IN ITALIC. I DID THE REGRESSION TABLES BUT DO NOT KNOW HOW TO ATTACH. Input the following data into Excel. 9)Assume...

Please assist with graphs and explanation attached. 2. Copy and paste the following data into Excel: P Q $210.00 5415 $205.80 5553 $203.70 5783 $195.30 5958 $184.80 6115 $182.70 6266 $170.10 6581...

MBA 701 Module 3 Assignment 1. Let's examine the history of LSUS undergraduate enrollment vs. its tuition and fees. Download the "A3Q1 LSUS enrollment data" Excel file; in it you will see historical...

Year undergrad enrollment total LSUS credit hour production undergrad tuition and fees 2000 3,422 90,624 $1,025 2001 3,419 94,446 $1,150 2002 3,543 96,039 $1,184 2003 3,655 101,352 $1,442 2004 3,910...

I need help with thie Cost Accounting class Assignment. It is due tonight by 11:59(13 hours from now). The file is attached. ACC 331 Spreadsheet Exam Chapters 5 and 6 In order to do these problems it...

London School of Science & Technology Qualification Unit number and title BTEC Level 5 HND Diploma Business UNIT 6: Business Decision Making Student name and ID number Assessor name Al Hassan Barrie...

Files 12:56 PM Mon May 16 25% Unit+2+workbook Q . . . Home Insert Draw Layout Review View Calibri Bold (Body) 36 B I U aAv A v Unit 2-Supply and Demand Name: HR: LAW OF SUPPLY Use the space below to...

Please read chapter 14 and 15 Simple Linear Regression and Multiple Regression. Explore the DATA ANALYSIS (Excel) - Regression Analysis Tool. Refer to the results/answers presented in the book. To be...

Name: T.A. name/Class time: MW Lecturer: Lab 11: Multiple Regression Open the lab dataset on Blackboard Learn or previously saved in SPSS. This dataset contains the data for 96 subjects. The...

Employees earn $5,000 per day, work five days per week, Monday through Friday, and get paid every Friday. The previous payday was January 26 and the accounting period ends on January 31. Required:...

The gross requirements for Item A, which has a lead time of 1 week, are specified for the beginning of weeks 1 through 8 in the table that follows. Item A Week 1 Week 2 Week 3 Week 4 Week 5 Week 6...

2. Prevention costs are the costs associated with: (a) Getting it wrong. (b) Checking that it is right. (c) Handling of returned products. (d) Design, implementation and maintenance of the quality...

Which of the following equations is accurate? Question 2 7 options: A ) Attitude + value = belief. B ) Attitude + belief = value. C ) Input + outcome = equity. D ) Belief + value = attitude.

=+d. Purchaser: buys the item.

=+3. Speak in an appropriate tone of voice. If you're reaching out to families looking for a fun vacation look at how Disney vacations always sound like exciting adventures.

3 When you are in a position, either now or in the future, to have an impact on the psychological contracts of other people (e. g. those reporting to you), what are the key lessons you will keep in...