9.26 1) Use MS Excel and estimate the above linear regression model. Write the e
ID: 3321581 • Letter: 9
Question
9.26
1) Use MS Excel and estimate the above linear regression model. Write the estimated regression model. (5 points)
2) Fill the blanks below. (10 points)
If the price of Fresh increases one dollar, the sales of Fresh will decrease as many as ______ bottles.
If the average industry price (in dollars) of competitors’ similar detergents increases one dollar, the sales of Fresh will increase as many as __________ bottles.
If Enterprise Industries reduces advertising expenditure by $100,000, then the sales of Fresh will decrease as many as ______ bottles.
3) What is the demand for Fresh Detergent in a future sales period when Enterprise Industries’ price for Fresh will be x1 = 3.70, the average price of competitors’ similar detergents will be x2 = 3.90 and Enterprise Industries’ advertising expenditure for Fresh will be x3 = 6.50? (5 points)
Price IndPrice AdvExp Demand X1 X2 X3 Y 3.85 3.80 5.50 7.38 3.75 4.00 6.75 8.51 3.70 4.30 7.25 9.52 3.70 3.70 5.50 7.50 3.60 3.85 7.00 9.33 3.60 3.80 6.50 8.28 3.60 3.75 6.75 8.75 3.80 3.85 5.25 7.87 3.80 3.65 5.25 7.10 3.85 4.00 6.00 8.00 3.90 4.10 6.50 7.89 3.90 4.00 6.25 8.15 3.70 4.10 7.00 9.10 3.75 4.20 6.90 8.86 3.75 4.10 6.80 8.90 3.80 4.10 6.80 8.87 3.70 4.20 7.10 9.26 3.80 4.30 7.00 9.00 3.70 4.10 6.80 8.75 3.80 3.75 6.50 7.95 3.80 3.75 6.25 7.65 3.75 3.65 6.00 7.27 3.70 3.90 6.50 8.00 3.55 3.65 7.00 8.50 3.60 4.10 6.80 8.75 3.65 4.25 6.80 9.21 3.70 3.65 6.50 8.27 3.75 3.75 5.75 7.67 3.80 3.85 5.80 7.93 3.70 4.25 6.809.26
Explanation / Answer
1)
Y = 7.59 -2.36X1+1.61X2+0.5X3
2)
If the price of Fresh increases one dollar, the sales of Fresh will decrease as many as 2.36 bottles.
If the average industry price (in dollars) of competitors’ similar detergents increases one dollar, the sales of Fresh will increase as many as 1.61 bottles.
If Enterprise Industries reduces advertising expenditure by $100,000, then the sales of Fresh will decrease as many as 501 bottles.
3)
8.41
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