subject
Mathematics, 30.03.2020 19:39 iancuteodora30

Demand can be estimated with experimental data, time-series data, or cross-section data. In this case, cross-section data appear in the Excel file. Soft drink consumption in cans per capita per year is related to six-pack price, income per capita, and mean temperature across the 48 contiguous states in the United States.

QUESTIONS

1. Given the data, please construct a multiple linear regression program by MS Excel. (20%)

2. Interpret each coefficient of independent variable in the soft drink demand estimated function in question 1. (20%)

3. Given your answer in question 1, please comment on whether the regression estimated function is a good fit or not. What is the interpretation of coefficient of determination (R-square)? May we use the estimated function to predict for the future demand? Explain why. (20%)

4. How many cans/capita/year on soft drink should be for a state in which 6-pack price=$1.95, Income/Capita=$23,500, and Mean Temp= 68

ansver
Answers: 1

Other questions on the subject: Mathematics

image
Mathematics, 21.06.2019 17:30, peperivera2652738
Find the exact value of each of the following. in each case, show your work and explain the steps you take to find the value. (a) sin 17π/6 (b) tan 13π/4 (c) sec 11π/3
Answers: 2
image
Mathematics, 21.06.2019 21:50, indexes06
Which of the following equations is equivalent to x/3-6/x=1
Answers: 3
image
Mathematics, 22.06.2019 00:30, saltyclamp
What are two numbers that have a sum of 15
Answers: 2
image
Mathematics, 22.06.2019 00:50, meganwintergirl
4. a single woman uses an online cash flow calculator which reveals a cash flow of 203. what does this mean?
Answers: 3
You know the right answer?
Demand can be estimated with experimental data, time-series data, or cross-section data. In this cas...

Questions in other subjects:

Konu
Geography, 10.10.2019 22:50