Question
Given the following regression data: Coefficients P-value Intercept (Q) -46.6438 0.5396 Price (P) -33.8476 0.0085 Income (I) 1.3793 0.0123 Ads (A) 5.2401 0.2406 Substitute Price
Given the following regression data:
| Coefficients | P-value | |
| Intercept (Q) | -46.6438 | 0.5396 |
| Price (P) | -33.8476 | 0.0085 |
| Income (I) | 1.3793 | 0.0123 |
| Ads (A) | 5.2401 | 0.2406 |
| Substitute Price (Psub) | 25.5520 | 0.5217 |
| Populaton (Pop) | 0.2474 | 0.0003 |
If we decide to charge a price (P) $2, while at the same time the substitute product price (Psub) is $2.15. All else equal, what would you expect sales to be? What demand equation would you use? How confident are you in your forecast?
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Commercial Fishing On The Outer Banks
Authors: R Wayne Gray, Nancy Beach Gray
1st Edition
1439667055, 9781439667057
