I need help in determining the sales elasticity to price for each pack in the workbook.

.Are the elasticities of volume to price all negative as expected?

What else could be driving sales but not included in the retail measurement service data? Rank these options

Module 5, Quiz question #2 Populate yellow shaded areas with your answers Sales Equivalent Volume and Value data from a retail measurement service is given in the file: W5 Vol and Val Data 20200127 (LW).xlsx. The product represented in this file is a non-alcoholic beverage and different columns correspond to sales of different pack sizes in grocery stores. a. Calculate the sales elasticity to price for each pack and report the coefficients. Follow the example in the lecture. Price = Sales EQ / Sales Value. Log(Eq Sales) = intercept + coefficient*Log(Price). Fill out the table below. Pack 12 months ending Apr2018 Eq Sales 12 months ending Apr2018 Avg Price Price coef from simple model SS Can SP MP SS Bottle SP MP SS Plastic 4Pk MS Plastic MS Plastic 2Pk MS Plastic 4Pk a. Are the elasticities of volume to price all negative as expected? b. Total Average Price the way we have calculated it reflects some promotion activity. If some stores had an item on display, they likely would also have sold it at a discount from regular price. Below are some measures that could be missing from the simple model and causing that simple model to give a \"wrong\" answer on price elasticity. Put them in order from most to least likely to be confounding the price elasticity measurement. Hint: making a plot of volume and price over time could help you decide. Rank, 1 is most likely to be confounding price e Factor Own Distribution Competitive Price Competitive Distribution Own Promotion, e.g. % of stores with display What else could be driving sales but not included in the retail measurement service data? Rank these options Rank, 1 is most likely to be confounding price e Factor Consumer promotion Own media Weather The Economy Ignoring any wrong sign coefficients for now, does the rank order of price elasticities make sense to you? Why or Why Not? Some definitions and explanations of abbreviations Sales, Eq Units Retail sales in equivalent units. Liters in this case as the items are beverages Sales, Euros Retail sales in Euros SS Single Serve MS Multi Serve SS Can SP MP A single serve aluminum can package, an aggregation of both single and multi packs SS Bottle SP MP A single serve glass bottle package, an aggregation of both single and multip packs SS Plastic 4Pk A singlse serve plastic bottle, sold as a pack of 4 MS Plastic A multi serve large plastic bottle MS Plastic 2Pk A multi serve large plastic bottle, sold as a pack of 2 MS Plastic 4Pk A multi serve large plastic bottle, sold as a pack of 4 YE Year Ending nd multi packs multip packs Year 2013 2013 2013 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 2017 YearMonth Oct 2013 Nov 2013 Dec 2013 Jan 2014 Feb 2014 Mar 2014 Apr 2014 May 2014 Jun 2014 Jul 2014 Aug 2014 Sep 2014 Oct 2014 Nov 2014 Dec 2014 Jan 2015 Feb 2015 Mar 2015 Apr 2015 May 2015 Jun 2015 Jul 2015 Aug 2015 Sep 2015 Oct 2015 Nov 2015 Dec 2015 Jan 2016 Feb 2016 Mar 2016 Apr 2016 May 2016 Jun 2016 Jul 2016 Aug 2016 Sep 2016 Oct 2016 Nov 2016 Dec 2016 Jan 2017 Feb 2017 Mar 2017 Apr 2017 May 2017 Jun 2017 Sales, Eq Units Sales, Eq UnitSales, Eq Units Sales, Eq UnitSales, Eq Units SS Can SP MP SS Bottle SP SS Plastic 4Pk MS Plastic MS Plastic 2Pk 454 45 237 103 1,055 412 43 242 155 1,044 563 73 338 161 2,416 460 47 220 106 1,040 472 48 240 92 1,107 579 59 333 111 1,085 432 55 261 123 1,409 527 49 246 82 1,053 619 64 383 116 1,517 517 49 273 52 992 545 48 275 57 1,317 546 57 314 72 1,337 448 42 214 74 997 389 41 224 56 896 500 65 355 106 2,238 383 45 233 54 1,031 396 42 269 74 1,169 492 61 307 92 1,590 416 49 250 61 951 425 54 242 167 1,292 628 77 362 244 1,575 545 68 318 200 1,220 513 61 279 198 1,455 516 70 290 189 1,455 387 50 201 176 1,021 362 49 209 285 1,017 478 78 305 393 2,177 338 51 209 173 1,051 356 53 207 192 1,142 471 75 247 278 1,683 360 54 204 128 1,156 402 55 216 125 1,077 593 74 294 234 1,463 475 64 258 194 1,108 497 61 260 297 1,289 546 77 281 242 1,294 403 57 209 209 856 380 57 192 258 910 495 94 277 294 2,204 353 62 205 183 1,097 405 65 229 222 1,035 499 76 266 375 1,092 414 69 219 222 1,383 332 63 201 193 940 519 70 307 488 1,680 2017 Jul 2017 2017 Aug 2017 2017 Sep 2017 2017 Oct 2017 2017 Nov 2017 2017 Dec 2017 2018 Jan 2018 2018 Feb 2018 2018 Mar 2018 2018 Apr 2018 Grand Total YE Apr2018 YE Apr2018, avg retail price YE Apr2017 YE Apr2018, % chg to PY 472 516 437 341 309 418 316 325 439 348 24,763.38 4,772 49 62 69 51 54 93 54 57 77 60 3,288.80 759 269 280 268 199 196 287 201 226 253 145 14,023.91 2,830 187 383 181 316 268 434 172 218 277 248 10,587.35 3,364 993 1,460 1,399 781 918 2,109 796 1,055 1,607 789 69,822.98 14,527 5,460 -13% 811 -6% 2,907 -3% 2,854 18% 14,807 -2% Sales, Eq Units Sales, Euros Sales, Euros Sales, Euros Sales, Euros Sales, Euros Sales, Euros MS Plastic 4Pk SS Can SP MP SS Bottle SP MPSS Plastic 4Pk MS Plastic MS Plastic 2Pk MS Plastic 4Pk 663 4,246 556 2,159 465 5,057 2,918 525 3,917 532 2,167 630 4,991 2,439 1,500 5,377 871 3,096 734 10,657 6,048 582 4,255 584 2,032 494 4,991 2,604 721 4,522 596 2,228 439 5,307 3,114 815 5,581 743 3,020 546 5,546 3,656 1,307 4,272 661 2,425 594 6,502 5,150 698 4,931 604 2,266 401 5,076 3,137 1,206 6,117 802 3,373 553 7,181 5,036 654 5,010 617 2,480 265 4,923 2,915 658 5,183 605 2,494 290 6,266 2,938 943 5,408 710 2,776 357 6,433 4,051 596 4,296 526 1,947 360 4,823 2,665 503 3,868 515 2,033 284 4,490 2,349 1,549 5,039 804 3,199 538 9,981 6,310 571 3,858 560 2,112 274 5,088 2,602 687 3,807 521 2,322 361 5,599 2,983 1,114 4,927 738 2,832 473 7,321 4,559 522 4,138 624 2,255 331 4,749 2,431 546 4,200 682 2,203 766 5,938 2,476 986 6,159 994 3,215 1,171 7,312 4,210 779 5,346 879 2,883 993 5,786 3,338 581 5,028 779 2,532 978 6,660 2,622 868 5,225 889 2,609 947 6,752 3,637 741 3,811 612 1,806 850 4,678 3,065 449 3,644 611 1,878 1,254 4,707 2,033 1,548 4,853 951 2,771 1,835 9,483 6,087 433 3,508 645 1,885 853 5,008 1,956 565 3,584 642 1,831 893 5,261 2,417 999 4,721 866 2,250 1,296 7,361 3,945 574 3,660 655 1,847 651 5,250 2,466 479 4,001 665 1,930 631 4,938 2,102 1,004 5,729 902 2,622 1,116 6,645 4,090 759 4,751 784 2,308 942 5,109 3,082 498 4,801 750 2,284 1,358 5,888 2,150 799 5,320 923 2,464 1,134 5,938 3,245 581 3,735 647 1,738 922 3,952 2,372 393 3,690 664 1,679 1,150 4,218 1,729 1,371 4,846 1,051 2,464 1,417 9,186 5,224 397 3,535 723 1,816 855 4,938 1,772 625 3,795 717 1,896 962 4,633 2,503 542 4,792 873 2,282 1,525 5,081 2,277 817 3,920 779 1,909 983 5,901 3,110 588 3,432 738 1,786 882 4,364 2,323 651 5,372 898 2,688 1,830 7,316 2,710 952 430 680 542 423 1,315 397 510 974 253 40,863.14 7,715 8,265 -7% 4,751 5,005 4,583 3,503 3,250 4,373 3,263 3,315 4,409 3,681 244,339.63 48,937 10.26 52,913 -8% 705 858 929 683 716 1,160 717 746 983 813 40,797.24 9,947 13.11 9,478 5% 2,319 2,433 2,312 1,716 1,677 2,429 1,663 1,846 2,185 1,275 124,645.20 24,328 8.60 25,392 -4% 865 1,408 859 1,155 1,107 1,763 780 882 1,148 1,031 47,584.65 13,711 4.08 12,995 6% 4,681 6,481 6,141 3,667 4,176 8,780 3,754 4,578 6,834 3,711 320,083.17 64,482 4.44 66,426 -3% 3,508 1,871 2,673 2,164 1,754 4,798 1,685 2,025 3,512 1,131 169,965.48 30,152 3.91 33,656 -10% Sales, Eq Units All Packs 2,558 2,421 5,051 2,455 2,680 2,982 3,587 2,655 3,905 2,538 2,899 3,268 2,371 2,109 4,812 2,317 2,637 3,656 2,249 2,726 3,873 3,131 3,087 3,388 2,577 2,370 4,978 2,256 2,515 3,752 2,476 2,354 3,662 2,858 2,902 3,239 2,314 2,190 4,734 2,297 2,582 2,850 3,123 2,317 3,715 2,921 3,130 3,033 2,231 2,166 4,655 1,935 2,392 3,626 1,844 40,863.14 33,966 35,104 -3%