Project

Statistics for estimating the demand for a soft drink product in the world

1 Estimate the demand for soft drinks. Demand for soft drinks in each of the 48 continental states for a given year. 2 Present the results in the form of a short report 1. Brief introduction to the report . This should include an indication of the form of the form being used, Including the predicted marks of the coefficients for each variable Use high-quality academic resources in the field, why do you think these factors affect the demand function 2. Analysis for each variable in the model . to include it 1 explanation for each estimator parameter 2 Discuss whether the mark of the estimated coefficient meets your expectations 3 Test the validity of each variable using the probability value 3. Calculate the point price elasticity, point income elasticity, and cross price elasticity of soft drinks. Give an explanation for each calculated elasticity. Based on the estimated flexibility

1 Should soft drink companies increase or decrease the price to increase revenue from soft drinks? 2 Are soft drinks normal or inferior in this case? 3 What is the relationship between soft drinks and bottled water? Provide a brief conclusion. Why do you think the model is good or not. .Define variables . Discuss potential problems that may be relevant in this case. This includes the problems that lead to them and potential solutions.

Use at least three high-quality academic resources for this assignment. Note: Wikipedia does not qualify as an academic resource.