2023 Demand can be estimated with experimental data time series data or cross section data In this case cross section data appear in

SOFT DRINK DEMAND DATA 2023 Business Finance

2023 Demand can be estimated with experimental data time series data or cross section data In this case cross section data appear in

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°F? (20%)

5. Now omit the price and temperature from the regression equation. Should a marketing plan for soft drinks be designed that relocates most canned drink machines into low-income neighborhoods? Why or why not? (20%)

DUE TO UNFORTUNATE CIRCUMSTANCE, I AM UNABLE TO CHANGE THE DEADLINE

We give our students 100% satisfaction for their assignment, which is one of the most important reasons students prefer us from other helpers. Our professional group and planners have more than ten years of rich experience. The only reason that our inception days, we have helped more than 100000 students with their assignments successfully. Our expert’s group have more than 2200 professionals of different topics, and that not all; we get more than 300 jobs every day more than 90% of the assignment get the conversion for payment.