ou are the manager of a firm that sells a leading brand of alkaline batteries. Click on the link below to access data on the demand for your product. Specifically, the file contains data on the natural logarithm of your quantity sold, price, and the average income of consumers in various regions around the world. Use the information provided in the excel spreadsheet to perform a log-linear regression. LN Quantity LN Price LN Income 1.07 1.15 4.4 1.07 1.09 4.39 1.08 0.97 4.4 1.08 1.04 4.39 1.09 0.92 4.39 1.08 0.96 4.39 1.1 0.77 4.39 1.1 0.79 4.39 1.08 1.06 4.39 1.07 1.13 4.39 1.08 0.96 4.4 1.08 1.02 4.39 1.09 0.82 4.39 1.07 1.1 4.39 1.09 0.9 4.39 1.1 0.77 4.39 1.09 0.91 4.4 1.08 1.07 4.4 1.09 0.88 4.39 1.07 1.16 4.39 1.08 1.08 4.4 1.08 1 4.39 1.09 0.88 4.39 1.07 1.13 4.4 1.07 1.09 4.39 1.11 0.64 4.39 1.09 0.9 4.39 1.07 1.19 4.4 1.06 1.27 4.39 1.08 0.94 4.39 1.07 1.1 4.4 1.13 0.28 4.39 1.08 0.97 4.4 1.09 0.86 4.4 1.07 1.13 4.39 1.08 1.03 4.39 1.08 0.96 4.39 1.08 0.95 4.4 1.07 1.12 4.4 1.1 0.7 4.4 1.08 0.99 4.39 1.08 0.98 4.39 1.08 1.07 4.4 1.07 1.1 4.4 1.07 1.21 4.39 1.09 0.93 4.39 1.08 1.04 4.4 1.09 0.9 4.39 1.08 0.97 4.39 Fill in your estimates below: Instruction: Enter a negative number if the coefficient estimate is negative, and round your response to two decimal places. lnQ = + lnP + lnM

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter4: Equations Of Linear Functions

Section4.6: Regression And Median-fit Lines

Problem 6PPS

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You are the manager of a firm that sells a leading brand of alkaline batteries. Click on the link below to access data on the demand for your product. Specifically, the file contains data on the natural logarithm of your quantity sold, price, and the average income of consumers in various regions around the world.

Use the information provided in the excel spreadsheet to perform a log-linear regression.

LN Quantity	LN Price	LN Income
1.07	1.15	4.4
1.07	1.09	4.39
1.08	0.97	4.4
1.08	1.04	4.39
1.09	0.92	4.39
1.08	0.96	4.39
1.1	0.77	4.39
1.1	0.79	4.39
1.08	1.06	4.39
1.07	1.13	4.39
1.08	0.96	4.4
1.08	1.02	4.39
1.09	0.82	4.39
1.07	1.1	4.39
1.09	0.9	4.39
1.1	0.77	4.39
1.09	0.91	4.4
1.08	1.07	4.4
1.09	0.88	4.39
1.07	1.16	4.39
1.08	1.08	4.4
1.08	1	4.39
1.09	0.88	4.39
1.07	1.13	4.4
1.07	1.09	4.39
1.11	0.64	4.39
1.09	0.9	4.39
1.07	1.19	4.4
1.06	1.27	4.39
1.08	0.94	4.39
1.07	1.1	4.4
1.13	0.28	4.39
1.08	0.97	4.4
1.09	0.86	4.4
1.07	1.13	4.39
1.08	1.03	4.39
1.08	0.96	4.39
1.08	0.95	4.4
1.07	1.12	4.4
1.1	0.7	4.4
1.08	0.99	4.39
1.08	0.98	4.39
1.08	1.07	4.4
1.07	1.1	4.4
1.07	1.21	4.39
1.09	0.93	4.39
1.08	1.04	4.4
1.09	0.9	4.39
1.08	0.97	4.39

Fill in your estimates below:

Instruction: Enter a negative number if the coefficient estimate is negative, and round your response to two decimal places.

lnQ = + lnP + lnM

Expert Solution