Information from composing task #1 is expected to task #2 (transferred). I require help with task #2
Task #1 data is beneath:
Envision that you work for the producer of a main brand of low-calorie solidified, microwavable sustenance that gauges the accompanying interest condition for its item utilizing information from 26 stores around the nation for the long stretch of April.
Evaluated Demand Equation ? QD = – 5200 – 42(P) + 20(Px)+ 0.52( I )+ 0.20(A) + 0.25(M)
Standard Errors of Estimate ? (2.002) (17.5) (6.2) (2.5) (0.09) (0.21)
(for figuring “t-values”
Other Regression measurements n = 26 R2 = 0.55 F = 4.88
QD = Quantity requested of 3-pack units for your organization’s solidified nourishment
P (in dollars) = Price of the item = $5 per 3-pack unit
Px (in dollars) = Price of driving contender’s item = $6 per 3-pack unit
I (in dollars) = Per capita salary of the standard metropolitan measurable range
(SMSA) in which the stores are found = $5,500
An (in dollars) = Monthly publicizing consumptions = $10,000
M = Number of microwave stoves sold in the SMSA in which each
Store is found = 5,000
a) Plot the request bend for your firm by utilizing the accompanying costs for its 3-pack unit: $2, $4. $6, $8, and $10. Clue: Place the value (P) on vertical hub and the amount requested (QD) on the even hub.
b) Plot the comparing supply bend on a similar chart utilizing the accompanying supply work
QS = – 79.1 + 79.1(P) with an indistinguishable costs from to a limited extent a. (Keep in mind: Price is set on the vertical
hub and the amount on the flat pivot.)
c) Determine the balance cost and amount.
