GARY'S GRUB AND GASOLINE - QUESTIONS

Q. 3. Estimate the demand curves for fuel sales and for restaurant sales. HINT: Use simple regression to estimate the relation between number of sales (or tickets) and price for diesel fuel, gasoline, and finally for restaurant sales. You will need to do three simple regressions.

This is the data chart

https://www.csun.edu/sites/default/files/Bob%27s%20Service%20Station%20and%20Diner%20-%20Student%20Data%20Spreadsheet.xlsx

Question 3: Demand Curves To estimate fuel and meal sales demand, perform three simple regressions. Be sure to use real prices for meals, gas, and diesel fuel. The dependent variable (Y) is the variable you wish to predict. The independent variable (X) is the variable you wish to base your prediction on. Test for significance: Let significance be .05.