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A. From the first model above (the one using the full svedkaData dataframe): - What would you tell SVEDKA with respect to the elasticities of
A. From the first model above (the one using the full svedkaData dataframe): - What would you tell SVEDKA with respect to the elasticities of price, previous sales and the various forms of advertising? What appears to have the higher elasticities? Is there anything that is inelastic? Coefficients: Estimate Std. Error t value Pr(> t ) (Intercept ) 0. 907788 0 . 174557 5. 201 4.22e-07 * * * log (pricePerCase) -0. 099862 0 . 029999 -3.329 0 . 00101 * * log (numSoldLstYr) 0. 919847 0 . 012240 75. 151
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