Use the same data as those given in problem 6 and perform the following tasks: a) Depict

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Use the same data as those given in problem 6 and perform the following tasks:

a) Depict the price– demand relationship in a scatter plot.

b) Estimate a constant elasticity price– response function using the INTERCEPT and SLOPE functions in Excel based on log- transformed data.

c) Illustrate the estimated price– response function together with the scatterplot.

d) How would you assess the fit of the constant elasticity price– response function to these data?

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Essentials Of Pricing Analytics

ISBN: 978-0367363239

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Authors: Erik Haugom

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Question Posted: Jul 10, 2024 10:04 AM

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Use the same data as those given in problem 6 and perform the following tasks: a) Depict

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