Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Conducting a demand analysis and forecast for pizza, you will be able to make a decision whether the pizza company should establish a presence in
Conducting a demand analysis and forecast for pizza, you will be able to make a decision whether the pizza company should establish a presence in your community. discuss possible missing variables and do not suggest how the estimate might be used by management, such as noting elasticity’s, include actual value of f or t and the critical values for accept or reject and there is no time dimension.
| The Pizza Company | ||||
Market | Demand (Q) | Price (P) | Competitor Price (P x) | Advertising (Ad) | Income (I) |
1 | 596,611 | 7.62 | 6.54 | 200,259 | 54,880 |
2 | 596,453 | 7.29 | 5.01 | 204,559 | 51,755 |
3 | 599,201 | 6.66 | 5.96 | 206,647 | 52,955 |
4 | 572,258 | 8.01 | 5.30 | 207,025 | 54,391 |
5 | 558,142 | 7.53 | 6.16 | 207,422 | 48,491 |
6 | 627,973 | 6.51 | 7.56 | 216,224 | 51,219 |
7 | 593,024 | 6.20 | 7.15 | 217,954 | 48,685 |
8 | 565,004 | 7.28 | 6.97 | 220,139 | 47,219 |
9 | 596,254 | 5.95 | 5.52 | 220,215 | 49,775 |
10 | 652,880 | 6.42 | 6.27 | 220,728 | 54,932 |
11 | 596,784 | 5.94 | 5.66 | 226,603 | 48,092 |
12 | 657,468 | 6.47 | 7.68 | 228,620 | 54,929 |
13 | 519,866 | 6.99 | 5.10 | 230,241 | 46,057 |
14 | 612,941 | 7.72 | 5.38 | 232,777 | 55,239 |
15 | 621,707 | 6.46 | 6.20 | 237,300 | 53,976 |
16 | 597,215 | 7.31 | 7.43 | 238,765 | 49,576 |
17 | 617,427 | 7.36 | 5.28 | 241,957 | 55,454 |
18 | 572,320 | 6.19 | 6.12 | 251,317 | 48,480 |
19 | 602,400 | 7.95 | 6.38 | 254,393 | 53,249 |
20 | 575,004 | 6.34 | 5.67 | 255,699 | 49,696 |
21 | 667,581 | 5.54 | 7.08 | 262,270 | 52,600 |
22 | 569,880 | 7.89 | 5.10 | 275,588 | 50,472 |
23 | 644,684 | 6.76 | 7.22 | 277,667 | 53,409 |
24 | 605,468 | 6.39 | 5.21 | 277,816 | 52,660 |
25 | 599,213 | 6.42 | 6.00 | 279,031 | 50,464 |
26 | 610,735 | 6.82 | 6.97 | 279,934 | 49,525 |
27 | 603,830 | 7.10 | 5.30 | 287,921 | 49,489 |
28 | 617,803 | 7.77 | 6.96 | 289,358 | 49,375 |
29 | 529,009 | 8.07 | 5.76 | 294,787 | 48,254 |
30 | 573,211 | 6.91 | 5.96 | 296,246 | 46,017 |
Step by Step Solution
★★★★★
3.46 Rating (166 Votes )
There are 3 Steps involved in it
Step: 1
Using the data given demand for pizzas in different markets is regressed on own price price of a competitor good x advertisement expenditure and incom...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started