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- Please no written by hand and no emage Your company, which specializes in running shoes for men who are growing increasingly follicly-challenged (BalderDash®), has the following demand function: Q = a + bP + cM + dR where Q is the quantity demanded of BalderDash’s most popular shoes, P is the price of that product, M is consumer income, and R is the price of a related product. The regression results are: Adjusted R Square 0.7796 Independent Variables Coefficients Standard Error t Stat P-value Intercept 21,055.04 1428.27 14.74 8.1E-16 P -83.912 19.079 -4.398 0.000 M 0.0266 0.013 2.064 0.047 R -16.6 10.664 -1.556 0.129 Discuss whether you think these regression results will generate good sales estimates for BalderDash. Now assume that the income is $69,100, the price of the related good is $39, and BalderDash chooses to set the price of its product at $54. b. What is the estimated number of units sold given the data above? (round to nearest unit; no decimals) c.…Given the following data X (consumers of teff) or popn 3 6 8 1 13 13 14 Y ( teff consumption) 8 6 10 12 12 14 20 year 2013 2014 2015 2016 2017 2018 2019 Estimate the regression equation, Y= a+bX, Where Y denotes demand for teff while X is consumers of teff (population) By assuming demand for teff is only affected by its consumers, find the amount demand for teff in the year 2022 if the populations (consumers of teff) are about 18 people? (Hint: use the least square method, parameter a and b can be estimated by solving the two linear equations) SY= na+ bSX SXY=aSX +b Where n is number of years. For example, Estimate the sales for 2012, 2015 and fit a linear regression equation and draw a trend line.ar X Sales (Y) XY X2 year X Sales (Y) XY X2 2002 1 22734 22734 1 2003 2 24731 49462 4 2004 3 31489 94467 9 2005 4 44685 178740 16 2006 5 55319…Suppose that News Corp., which controls the United States’ largest satellite-to-TV broadcaster, is contemplating launching a Spaceway satellite that could provide highspeed Internet service. Prior to launching the Spaceway satellite, suppose that News Corp. used least squares to estimate the regression line of demand for satellite Internet services. The best-fitting results indicate that demand is Qdsat = 152.5 − .8Psat +1.2PDSL + .5Pcable (in thousands), where Psat is the price of satellite Internet service, PDSL is the price of DSL Internet service, and Pcable is the price of high-speed cable Internet service. Suppose that after the FCC’s ruling the price of DSL, PDSL, is $25 per month and the monthly price of high-speed cable Internet, Pcable, is $50. Furthermore, News Corp. has identified that its monthly revenues need to be at least $15 million to cover its monthly costs. If News Corp. set its monthly subscription price for satellite Internet service at $55, would its revenue be…
- Suppose that News Corp., which controls the United States’ largest satellite-to-TV broadcaster, is contemplating launching a Spaceway satellite that could provide highspeed Internet service. Prior to launching the Spaceway satellite, suppose that News Corp. used least squares to estimate the regression line of demand for satellite Internet services. The best-fitting results indicate that demand is Qsatd = 152.5 − .8Psat + 1.2PDSL + .5Pcable (in thousands), where Psat is the price of satellite Internet service, PDSLis the price of DSL Internet service, and Pcable is the price of high-speed cable Internet service. Suppose that after the FCC’s ruling the price of DSL, PDSL, is $25 per month and the monthly price of high-speed cable Internet, Pcable, is $50. Furthermore, News Corp. has identified that its monthly revenues need to be at least $15 million to cover its monthly costs. If News Corp. set its monthly subscription price for satellite Internet service at $55, would its revenue be…Determine and discuss the impact of diesel prices on fuel revenues and the impact of gasoline prices on fuel revenues. What is the relationship between meal prices and meals? Define, measure, and discuss the price elasticities. HINT: Find price elasticity of demand by multiplying the slope of the regression line from Excel by the mean real price then divide by the mean quantity demanded. Please do fast ASAPSuppose that News Corp., which controls the United States’ largest satellite-to-TV broadcaster, is contemplating launching a Spaceway satellite that could provide high speed Internet service. Prior to launching the Spaceway satellite, suppose that News Corp. used least squares to estimate the regression line of demand for satellite Internet services. The best-fitting results indicate that demand is Qdsat = 152.5 - 0.8Psat + 1.2PDSL + 0.5Pcable (in thousands), where Psat is the price of satellite Internet service, PDSL is the price of DSL Internet service, and Pcable is the price of high-speed cable Internet service.Suppose that after the FCC’s ruling the price of DSL, PDSL, is $25 per month and the monthly price of high-speed cable Internet, Pcable, is $50. Furthermore, News Corp. has identified that its monthly revenues need to be at least $15 million to cover its monthly costs. If News Corp. set its monthly subscription price for satellite Internet service at $55, how much revenue…
- Q. 4. Determine and discuss the impact of diesel prices on fuel revenues and the impact of gasoline prices on fuel revenues. What is the relationship between meal prices and meals? Define, measure, and discuss the price elasticities. HINT: Find price elasticity of demand by multiplying the slope of the regression line from Excel by the mean real price then divide by the mean quantity demanded.General Cereals is using a regression model to estimate the demand for Tweetie Sweeties, a whistle-shaped, sugar-coated breakfast cereal for children. The following (multiplicative exponential) demand function is being used: QD=6,280 P(−1.85)A2.05N2.70QD=6,280 P−1.85A2.05N2.70 where QDQD = quantity demanded, in 10-oz boxes PP = price per box, in dollars AA = advertising expenditures on daytime television, in dollars NN = proportion of the population under 12 years old, in percent What is the point price elasticity of demand for Tweetie Sweeties? 2.05 2.70 -0.90 -1.85 What is the advertising elasticity of demand? 0.76 -1.85 2.70 2.05Setting: U.S. Auto manufacturers are trying to develop a multivariate function with which to estimate the demand for their gas-electric hybrid compact cars. Here is one that Motors General developed for its Jolt: Qj = 65000 – 20Pj + 20Pf + 35Pt – 5Pb + 0.2Tc + 0.05Y + 10Mg + 0.04A Where Qj = the number of Jolts demanded per week. Pj = the price of each new Jolt (in $). Pf = the price of each new Ford gas-electric hybrid (in $). Pt = the price of each new Toyota gas-electric hybrid (in $). Pb = the price of replacement batteries for the Jolt (in $). Tc = the amount of tax credit incentive offered with the purchase of a new hybrid (in $). Y = average weekly disposable income of a typical Jolt purchaser (in $). Mg = the miles per gallon of gas rating of the Jolt (in miles per gallon). A = average weekly Jolt advertising expenditure (in $). 6 If all variables remain unchanged except that the price of the Toyota hybrid (Pt) decreases by $500, then the demand for Jolts will: 7…
- Imagine that you work for the maker of a leading brand of low-calorie, frozen microwavable food that estimates the following demand equation for its product using data from 26 supermarkets around the country for the month of April. Note: The following is a regression equation. Standard errors are in parentheses for the demand for widgets. QD = - 5200 - 42P + 20PX + 5.2I + 0.20A + 0.25M (2.002) (17.5) (6.2) (2.5) (0.09) (0.21) R2 = 0.55 n = 26 F = 4.88 Your supervisor has asked you to compute the elasticities for each independent variable. Assume the following values for the independent variables: Q = Quantity demanded of 3-pack units P (in cents) = Price of the product = 500 cents per 3-pack unit PX (in cents) = Price of leading competitor's product = 600 cents per 3-pack unit I (in dollars) = Per capita income of the standard metropolitan statistical area (SMSA) in…does the simple regression of log (price) on log (nox) produce an upward or a downward biased estimator of β1?Q. Wilpen Company, a price-setting firm, produces nearly 80 percent of all tennis balls purchased in the United States. Wilpen estimates the U.S. demand for its tennis balls by using the following linear specification: Q = a + bP + cM + dPR. Where Q is the number of cans of tennis balls sold quarterly, P is the wholesale price Wilpen charges for a can of tennis balls, M is the consumers’ average household income, and PR is the average price of tennis rackets. The regression results are as follows: a- Discuss the statistical significance of the parameter estimates a^, b^, c^, and d^ using the p-values. Are the signs of b^, c^, and d^ consistent with the theory of demand? Wilpen plans to charge a wholesale price of $1.65 per can. The average price of a tennis racket is $110, and consumers’ average household income is $24,600. b. What is the estimated number of cans of tennis balls demanded? c) At the values of P, M, and Pr given, what are the estimated values of the price (E^), income…