Question: Question Completion Status Suppose your estimated equation for Soft Drink Demand is Cans +61-Price + b2income +33Temp + 4*Outdoor-400-150Price + 3*Income 1Temp. 40*Outdoor. Now suppose

Question Completion Status Suppose your estimated equation for Soft Drink Demand

Question Completion Status Suppose your estimated equation for Soft Drink Demand is Cans +61-Price + b2income +33Temp + 4*Outdoor-400-150"Price + 3*Income 1"Temp. 40*Outdoor. Now suppose Price -2.08. Income-17, Temp69 and the state is an Outdoor state. Use the demand function just provided to find the point Price Elasticity of demand. Side Note, you are finding the point price elasticity of soft drink demand for Texas.) OA-6 OB-1.26 OC-163 OD 2.64 E. None of the above 1 points QUESTION 18 Next estimate the multiplicative or log linear equation () Incans - Ina + p1'inPrice $2*inincome intemppeOutdoor. You will need to Convert Canis Price, income and Temp into natural log variables to estimate this equation Outdoor is a 0 - 1 dummy variable, where an outdoor state is assigned value of 1,0. Do not try to take the log of the Outdoor Gunny variableWhat percentage of the variation in demand for Cans is explained by IN model? OAB O24 6.61 O0.55 points QUESTION 19 Refer to your output for Equation ChinCans - Ina Price + $z*inincome iTemp + 54"South. What is the estimated price elasticity of demand OAB 0.125 OC-18 OD 24 13.01 Chick Save and Subm. Click Sow All Seven Save and Sub

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