answer 3,4,5,6

The table below shows the average sales (as number sold per day) at grocery store of Product A based on the prices of Product A and the prices of a competitor's Product B, where the two competing products and their respective prices are displayed next to each other, S=S(AB). 15 A = $2.75 A = $3.00 A = $3.25 A = $3.50 A = $3.75 B=$2.90 107 93 73 48 B = $3.15 156 142 122 97 64 B = $3.40 205 191 171 146 113 B= $3.65 254 240 220 195 162 B = $3.90 303 289 269 244 211 1) Use the table to estimate the rate of change in average sales of Product A with respect to the price of Product B. Show how you arrived at your estimate. 2) Explain why you could not estimate the rate of change in average sales of Product A with respect to the price of Product A as easily as you estimated the rate of change in problem 1). 3) In order to estimate the average sales of Product A when the price of Product A is $2.90 and the price of Product B is $3.90, which variable should be held constant? Why? 4) Will the cross-section needed to estimate the average sales in problem 3) be represented by a row or column? Why? I 5) Fill in the blanks with the four average rates of change for the cross- section you chose in problem 4). 6) Fill in the blanks with the four percentage rates of change for the cross- section you chose in problem 4). 7) Without looking at a scatterplot or computing regression models, would a linear, exponential or quadratic cross-sectional model be most appropriate for the estimate in problem 3)? Why? 8) Using your answer from problem 7), find the best cross-sectional model that could be used for the estimate in problem 3). 9) Use your model from problem 8) to estimate the average sales of Product A when the price of Product A is $2.90 and the price of Product B is $3.90