1) Is the demand for illy coffee lower or higher than demand for Weggies? By how much? ( Give a number).
2) Is demand for coffee lower or higher in quarter 1 when compared to quarter 2? ( Need to give a %)
SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted Square Standard Error Observations 0.304 0.092 0.090 1.264 4564 ANOVA IP 55 F Slanificance 0.00 Regression Residual Total 38.52 MES 61.49 1.60 12.00 4551,00 4563.00 737.90 7265.91 8003,81 Intercept IN Pcoffee IN Pmilk LN Pres LN Income Illy Costa Gevalla Tim Hortons Caribou 02 03 04 Coefficients 1.725 1.106 0.089 -0.003 0.083 0.299 0.242 -0.195 -0.219 -0.143 0,373 -0.095 0.031 Standard Error 0.351 0.055 0.059 0.027 0.028 + 0.108 0.071 0.067 0.084 0.055 0,093 0.075 0.082 Stot 4.912 20.195 1.518 -0.117 2.994 -2.777 -1.426 2.914 2.602 2.218 4,002 -1.251 -0.381 P-value 0.000 0.000 0.129 0.907 0.003 0.006 0.001 0.004 0.009 0,027 0.000 0,209 0.703 Lower 95% 1.036 1.213 0.026 0.055 0.029 0.510 0.381 0326 0.183 -0.270 Upper 95N 2.413 -0.998 0.204 0.049 0.138 0.083 -0.104 -0.064 0.054 -0.017 0.190 0.053 0.110 Lower 95.ON 1.036 -1.213 0.026 -0.055 0.029 -0.510 -0.381 0.326 0,383 0.270 -0.555 -0.242 0192 Upper 95.ON 2413 -0998 0,204 0.049 0.138 -0.088 0.104 -0.004 0.054 -0.017 0.190 0.053 0.130 0.555 -0.242 0.192 . You have data on ground coffee purchases for Wegmans, a grocery store chain in the Northeastern U.S. Specifically, you have data on ground coffee purchases for the year 2019 across all Wegmans stores. The variables you have in the Excel Sheet are: Qcoffee: quantity of ground coffee purchased on a given purchase occasion (shopping trip), in ounces. Its logarithmic form is LN_Qcoffee. Pcoffee: the price of the purchased coffee, in USD/oz. Its logarithmic form is LN_Pcoffee. Pmilk: the price of 2% milk faced by the customer on the shopping trip. Its logarithmic form is LN_Pmilk. Ptea: the average price of loose-leaf tea on the shopping trip. Its logarithmic form is LN_Ptea. Income: the income of the shopper, in USD. Its logarithmic form is LN_Income. . illy, Costa, Gevalia, Tim Hortons, Caribou: dummy variables indicator for the coffee brand. The omitted base category is Weggie, Wegmans in-house brand. Q2, Q3, Q4: dummy variables indicator for the financial quarter. The omitted base category is Q1. . SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted Square Standard Error Observations 0.304 0.092 0.090 1.264 4564 ANOVA IP 55 F Slanificance 0.00 Regression Residual Total 38.52 MES 61.49 1.60 12.00 4551,00 4563.00 737.90 7265.91 8003,81 Intercept IN Pcoffee IN Pmilk LN Pres LN Income Illy Costa Gevalla Tim Hortons Caribou 02 03 04 Coefficients 1.725 1.106 0.089 -0.003 0.083 0.299 0.242 -0.195 -0.219 -0.143 0,373 -0.095 0.031 Standard Error 0.351 0.055 0.059 0.027 0.028 + 0.108 0.071 0.067 0.084 0.055 0,093 0.075 0.082 Stot 4.912 20.195 1.518 -0.117 2.994 -2.777 -1.426 2.914 2.602 2.218 4,002 -1.251 -0.381 P-value 0.000 0.000 0.129 0.907 0.003 0.006 0.001 0.004 0.009 0,027 0.000 0,209 0.703 Lower 95% 1.036 1.213 0.026 0.055 0.029 0.510 0.381 0326 0.183 -0.270 Upper 95N 2.413 -0.998 0.204 0.049 0.138 0.083 -0.104 -0.064 0.054 -0.017 0.190 0.053 0.110 Lower 95.ON 1.036 -1.213 0.026 -0.055 0.029 -0.510 -0.381 0.326 0,383 0.270 -0.555 -0.242 0192 Upper 95.ON 2413 -0998 0,204 0.049 0.138 -0.088 0.104 -0.004 0.054 -0.017 0.190 0.053 0.130 0.555 -0.242 0.192 . You have data on ground coffee purchases for Wegmans, a grocery store chain in the Northeastern U.S. Specifically, you have data on ground coffee purchases for the year 2019 across all Wegmans stores. The variables you have in the Excel Sheet are: Qcoffee: quantity of ground coffee purchased on a given purchase occasion (shopping trip), in ounces. Its logarithmic form is LN_Qcoffee. Pcoffee: the price of the purchased coffee, in USD/oz. Its logarithmic form is LN_Pcoffee. Pmilk: the price of 2% milk faced by the customer on the shopping trip. Its logarithmic form is LN_Pmilk. Ptea: the average price of loose-leaf tea on the shopping trip. Its logarithmic form is LN_Ptea. Income: the income of the shopper, in USD. Its logarithmic form is LN_Income. . illy, Costa, Gevalia, Tim Hortons, Caribou: dummy variables indicator for the coffee brand. The omitted base category is Weggie, Wegmans in-house brand. Q2, Q3, Q4: dummy variables indicator for the financial quarter. The omitted base category is Q1
