Question
A Coffee Shop Consortium called High Star Cafeteria has hired your services as a manager to figure out what is happening to their revenue, given
A Coffee Shop Consortium called High Star Cafeteria has hired your services as a manager to figure out what is happening to their revenue, given that in January 2010 their total revenue was $5,293,605, whereas in January 2019 it was $5,521,126, which is a very slow increase in 10 years. The data is attached in an Excel File in this test. They are requesting your help to understand how price increases are affecting the quantity of coffee cups sold.
- A table with the descriptive statistics of the coffee cups sold in the 10 years, as well as an explanation of the descriptive statistics: what do you see? What are some of the key aspects of the descriptive statistics that help you tell a story about these 10 years in cups of coffee sold.
- A graph (whichever you want) to show visually what is happening to the revenue of High Star Cafeteria (you can even combine it with price per cup or cups of coffee sold graphs if you want, ultimately, I want you to provide visual understanding of what is going on).
Run a regression where you explain how price changes are affecting the quantity of cups sold. Please remember to include an explanation of the coefficients as well as an explanation of the t-statistics, the intercept, the R-Squared, and the F-Statistic.
jan 10 | $7.13 | 742962 | $5293605 | |
feb 10 | 7.13 | 877304 | 6250792 | |
mar 10 | 7.38 | 768780 | 5669753 | |
apr 10 | 7.38 | 762168 | 5620986 | |
may 10 | 7.38 | 874952 | 6452774 | |
jun 10 | 7.38 | 862315 | 6359570 | |
july 10 | 7.38 | 877029 | 6468087 | |
aug 10 | 7.38 | 805922 | 5943675 | |
sept 10 | 7.44 | 715207 | 5319355 | |
oct 10 |
| 731963 | 5443973 | |
nov 10 | 7.44 | 754377 | 5610680 | |
dec 10 | 7.44 | 719884 | 5354139 | |
jan 11 | 7.44 | 718287 | 5342262 | |
feb 11 | 7.44 | 890596 | 6623810 | |
mar 11 | 7.44 | 718039 | 5340417 | |
apr 11 | 7.44 | 756708 | 5628016 | |
may 11 | 7.44 | 818321 | 6086265 | |
jun 11 | 7.44 | 860089 | 6396908 | |
jul 11 | 7.44 | 774028 | 5756831 | |
aug 11 | 7.44 | 833472 | 6198946 | |
sept 11 | 7.56 | 704018 | 5324138 | |
oct 11 | 7.56 | 752619 | 5691683 | |
nov 11 | 7.56 | 740818 | 5602438 | |
dec 11 | 7.56 | 710376 | 5372216 | |
jan 12 | 7.56 | 702922 | 5315849 | |
feb 12 | 7.56 | 827832 | 6260481 | |
mar 12 | 7.56 | 678922 | 5134347 | |
apr 12 | 7.56 | 691360 | 5228414 | |
may 12 | 7.56 | 792116 | 5990380 | |
jun 12 | 7.56 | 797554 | 6031505 | |
jul 12 | 7.56 | 712292 | 5386711 | |
aug 12 | 7.56 | 785359 | 5939277 | |
sept 12 | 7.56 | 682342 | 5160214 | |
oct 12 | 7.56 | 719570 | 5441747 | |
nov 12 | 7.56 | 738012 | 5581214 | |
dec 12 | 7.56 | 702278 | 5310976 | |
jan 13 | 7.56 | 718012 | 5429964 | |
feb 13 | 7.56 | 833561 | 6303802 | |
mar 13 | 7.56 | 702976 | 5316258 | |
apr 13 | 7.56 | 714232 | 5401378 | |
may 13 | 7.56 | 778797 | 5889653 | |
jun 13 | 7.56 | 821159 | 6210018 | |
july 13 | 7.56 | 732957 | 5542987 | |
aug 13 | 7.56 | 802482 | 6068770 | |
sept 13 | 7.56 | 735583 | 5562843 | |
oct 13 | 7.56 | 759991 | 5747429 | |
nov 13 | 7.56 | 748713 | 5662139 | |
dec 13 | 7.56 | 712479 | 5388121 | |
jan 14 | 7.56 | 715345 | 5409796 | |
feb 14 | 7.56 | 816588 | 6175444 | |
mar 14 | 7.56 | 695298 | 5258189 | |
apr 14 | 7.56 | 711913 | 5383843 | |
may 14 | 7.56 | 797815 | 6033473 | |
jun 14 | 7.56 | 818408 | 6189207 | |
jul 14 | 7.56 | 729178 | 5514409 | |
aug 14 | 7.56 | 783458 | 5924904 | |
sept 14 | 7.56 | 733372 | 5546126 | |
oct 14 | 7.56 | 737867 | 5580121 | |
nov 14 | 7.56 | 731409 | 5531280 | |
dec 14 | 7.56 | 717448 | 5425700 | |
jan 15 | 7.56 | 707391 | 5349644 | |
feb 15 | 7.56 | 831927 | 6291446 | |
mar 15 | 7.56 | 687301 | 5197711 | |
apr 15 | 7.56 | 696099 | 5264246 | |
may 15 | 7.56 | 777569 | 5880366 | |
jun 15 | 7.56 | 784197 | 5930491 | |
jul 15 | 7.56 | 697232 | 5272814 | |
aug 15 | 7.56 | 826214 | 6248241 | |
sept 15 | 7.94 | 730118 | 5795315 | |
oct 15 | 7.94 | 770910 | 6119101 | |
nov 15 | 7.94 | 784748 | 6228934 | |
dec 15 | 7.94 | 768711 | 6101647 | |
jan 16 | 7.94 | 753293 | 5979264 | |
feb 16 | 7.94 | 902803 | 7165997 | |
mar 16 | 7.94 | 752444 | 5972523 | |
apr 16 | 7.94 | 752293 | 5971323 | |
may 16 | 7.94 | 823919 | 6539859 | |
jun 16 | 7.94 | 875310 | 6947776 | |
jul 16 | 7.94 | 771304 | 6122226 | |
aug 16 | 7.94 | 853835 | 6777318 | |
sept 16 | 8.31 | 732445 | 6088448 | |
oct 16 | 8.31 | 741740 | 6165714 | |
nov 16 | 8.31 | 747721 | 6215428 | |
dec 16 | 8.31 | 714177 | 5936593 | |
jan 17 | 8.31 | 693398 | 5763874 | |
feb 17 | 8.31 | 830400 | 6902702 | |
mar 17 | 8.31 | 694162 | 5770225 | |
apr 17 | 8.31 | 723664 | 6015454 | |
may 17 | 8.31 | 790149 | 6568117 | |
jun 17 | 8.31 | 790010 | 6566961 | |
jul 17 | 8.31 | 703377 | 5846822 | |
aug 17 | 8.31 | 762781 | 6340620 | |
sept 17 | 8.31 | 701547 | 5831612 | |
oct 17 | 8.31 | 713797 | 5933438 | |
nov 17 | 8.31 | 722508 | 6005849 | |
dec 17 | 8.31 | 673429 | 5597880 | |
jan 18 | 8.31 | 681908 | 5668364 | |
feb 18 | 8.31 | 791803 | 6581863 | |
mar 18 | 8.31 | 662106 | 5503752 | |
apr 18 | 8.31 | 677896 | 5635012 | |
may 18 | 8.31 | 733108 | 6093964 | |
jun 18 | 8.31 | 747909 | 6216995 | |
july 18 | 8.31 | 687792 | 5717274 | |
aug 18 | 8.31 | 728058 | 6051980 | |
sept 18 | 8.31 | 686427 | 5705925 | |
oct 18 | 8.31 | 678100 | 5636710 | |
nov 18 | 8.31 | 673697 | 5600110 | |
dec 18 | 8.31 | 668790 | 5559314 | |
jan 19 | 8.31 | 664196 | 5521126 | |
feb 19 | 8.31 | 766312 | 6369968 | |
mar 19 | 8.31 | 646090 | 5370620 | |
apr 19 | 8.31 | 656243 | 5455024 | |
may 19 | 8.31 | 718785 | 5974900 | |
june 19 | 8.31 | 730724 | 6074147 | |
jul 19 | 8.31 | 664153 | 5520774 | |
aug 19 | 8.31 | 708343 | 5888103 | |
sept 19 | 8.31 | 651405 | 5414808 | |
oct 19 | 8.31 | 669743 | 5567237 | |
nov 19 | 8.31 | 674525 | 5606993 | |
dec 19 | 8.31 | 652035 | 5420042 | |
Step by Step Solution
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ANSWER a The descprtive statistics for the data is given by Price per cup Sold coffee cups Total revenue Mean 7819833 Mean 7462742 Mean 5827411 Standard Error 0034369 Standard Error 5414776 Standard E...Get Instant Access to Expert-Tailored Solutions
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