Question: SUMMARY OUTPUT Regression Statistics Multiple R 0.903092 R Square 0.815576 Adjusted R Square 0.786068 Standard Error 15631.84 Observations 30 ANOVA df SS MS F Significance

SUMMARY OUTPUT
Regression Statistics
Multiple R 0.903092
R Square 0.815576
Adjusted R Square 0.786068
Standard Error 15631.84
Observations 30
ANOVA
df SS MS F Significance F
Regression 4 27015107558 6.75E+09 27.63927659 7.44276E-09
Residual 25 6108858229 2.44E+08
Total 29 33123965787
Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0%
Intercept 131614.4 74055.78904 1.777234 0.087699772 -20906.30814 284135.197 -20906.30814 284135.197
Price (P) -16713 4282.784148 -3.90236 0.000636387 -25533.52134 -7892.40321 -25533.52134 -7892.40321
Competitor Price (Px) 16940.4 3630.194899 4.666525 8.8436E-05 9463.869461 24416.92216 9463.869461 24416.92216
Advertising (Ad) 0.170821 0.096340319 1.7731 0.088397565 -0.02759561 0.369237591 -0.02759561 0.369237591
Income (I) 8.582485 1.063625112 8.069088 2.00808E-08 6.39190793 10.77306178 6.39190793 10.77306178

I have an additional question on my homework. Based on the elasticity elements (own price, cross price, income and advertising) what will the impact of a price change by the company on total revenue of SF Bread be if I assume other variables remain constant?

San Francisco Bread Company
Market Demand (Q) Price (P) Competitor Price (Px) Advertising (Ad) Income (I)
1 596,611 7.62 6.54 200,259 49,000
2 596,453 7.29 5.01 204,559 51,755
3 599,201 6.66 5.96 206,647 52,955
4 572,258 8.01 5.30 207,025 54,391
5 558,142 7.53 6.16 207,422 48,491
6 627,973 6.51 7.56 216,224 51,219
7 593,024 6.20 7.15 217,954 48,685
8 565,004 7.28 6.97 220,139 47,219
9 596,254 5.95 5.52 220,215 49,775
10 652,880 6.42 6.27 220,728 54,932
11 596,784 5.94 5.66 226,603 48,092
12 657,468 6.47 7.68 228,620 54,929
13 519,866 6.99 5.10 230,241 46,057
14 612,941 7.72 5.38 232,777 55,239
15 621,707 6.46 6.20 237,300 53,976
16 597,215 7.31 7.43 238,765 49,576
17 617,427 7.36 5.28 241,957 55,454
18 572,320 6.19 6.12 251,317 48,480
19 602,400 7.95 6.38 254,393 53,249
20 575,004 6.34 5.67 255,699 49,696
21 667,581 5.54 7.08 262,270 52,600
22 569,880 7.89 5.10 275,588 50,472
23 644,684 6.76 7.22 277,667 53,409
24 605,468 6.39 5.21 277,816 52,660
25 599,213 6.42 6.00 279,031 50,464
26 610,735 6.82 6.97 279,934 49,525
27 603,830 7.10 5.30 287,921 49,489
28 617,803 7.77 6.96 289,358 49,375
29 529,009 8.07 5.76 294,787 48,254
30 573,211 6.91 5.96 296,246 46,017
Average 598,412 6.93 6.16 244,648.73 50,847.83
SUMMARY OUTPUT
Regression Statistics
Multiple R 0.903092399
R Square 0.81557588
Adjusted R Square 0.786068021
Standard Error 15631.83704
Observations 30
ANOVA
df SS MS F Significance F
Regression 4 27015107558 6753776889 27.63927659 7.44276E-09
Residual 25 6108858229 244354329.2
Total 29 33123965787
Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0%
Intercept 131614.4445 74055.78904 1.777233707 0.087699772 -20906.30814 284135.197 -20906.30814 284135.197
Price (P) -16712.96228 4282.784148 -3.902359236 0.000636387 -25533.52134 -7892.40321 -25533.52134 -7892.40321
Competitor Price (Px) 16940.39581 3630.194899 4.666525154 8.8436E-05 9463.869461 24416.92216 9463.869461 24416.92216
Advertising (Ad) 0.17082099 0.096340319 1.773099703 0.088397565 -0.02759561 0.369237591 -0.02759561 0.369237591
Income (I) 8.582484853 1.063625112 8.069088215 2.00808E-08 6.39190793 10.77306178 6.39190793 10.77306178

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