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SUMMARY OUTPUT Regression Statistics Multiple R 0.903092 R Square 0.815576 Adjusted R Square 0.786068 Standard Error 15631.84 Observations 30 ANOVA df SS MS F Significance
SUMMARY OUTPUT | ||||||||
Regression Statistics | ||||||||
Multiple R | 0.903092 | |||||||
R Square | 0.815576 | |||||||
Adjusted R Square | 0.786068 | |||||||
Standard Error | 15631.84 | |||||||
Observations | 30 | |||||||
ANOVA | ||||||||
df | SS | MS | F | Significance F | ||||
Regression | 4 | 27015107558 | 6.75E+09 | 27.63927659 | 7.44276E-09 | |||
Residual | 25 | 6108858229 | 2.44E+08 | |||||
Total | 29 | 33123965787 | ||||||
Coefficients | Standard Error | t Stat | P-value | Lower 95% | Upper 95% | Lower 95.0% | Upper 95.0% | |
Intercept | 131614.4 | 74055.78904 | 1.777234 | 0.087699772 | -20906.30814 | 284135.197 | -20906.30814 | 284135.197 |
Price (P) | -16713 | 4282.784148 | -3.90236 | 0.000636387 | -25533.52134 | -7892.40321 | -25533.52134 | -7892.40321 |
Competitor Price (Px) | 16940.4 | 3630.194899 | 4.666525 | 8.8436E-05 | 9463.869461 | 24416.92216 | 9463.869461 | 24416.92216 |
Advertising (Ad) | 0.170821 | 0.096340319 | 1.7731 | 0.088397565 | -0.02759561 | 0.369237591 | -0.02759561 | 0.369237591 |
Income (I) | 8.582485 | 1.063625112 | 8.069088 | 2.00808E-08 | 6.39190793 | 10.77306178 | 6.39190793 | 10.77306178 |
I have an additional question on my homework. Based on the elasticity elements (own price, cross price, income and advertising) what will the impact of a price change by the company on total revenue of SF Bread be if I assume other variables remain constant?
San Francisco Bread Company | |||||
Market | Demand (Q) | Price (P) | Competitor Price (Px) | Advertising (Ad) | Income (I) |
1 | 596,611 | 7.62 | 6.54 | 200,259 | 49,000 |
2 | 596,453 | 7.29 | 5.01 | 204,559 | 51,755 |
3 | 599,201 | 6.66 | 5.96 | 206,647 | 52,955 |
4 | 572,258 | 8.01 | 5.30 | 207,025 | 54,391 |
5 | 558,142 | 7.53 | 6.16 | 207,422 | 48,491 |
6 | 627,973 | 6.51 | 7.56 | 216,224 | 51,219 |
7 | 593,024 | 6.20 | 7.15 | 217,954 | 48,685 |
8 | 565,004 | 7.28 | 6.97 | 220,139 | 47,219 |
9 | 596,254 | 5.95 | 5.52 | 220,215 | 49,775 |
10 | 652,880 | 6.42 | 6.27 | 220,728 | 54,932 |
11 | 596,784 | 5.94 | 5.66 | 226,603 | 48,092 |
12 | 657,468 | 6.47 | 7.68 | 228,620 | 54,929 |
13 | 519,866 | 6.99 | 5.10 | 230,241 | 46,057 |
14 | 612,941 | 7.72 | 5.38 | 232,777 | 55,239 |
15 | 621,707 | 6.46 | 6.20 | 237,300 | 53,976 |
16 | 597,215 | 7.31 | 7.43 | 238,765 | 49,576 |
17 | 617,427 | 7.36 | 5.28 | 241,957 | 55,454 |
18 | 572,320 | 6.19 | 6.12 | 251,317 | 48,480 |
19 | 602,400 | 7.95 | 6.38 | 254,393 | 53,249 |
20 | 575,004 | 6.34 | 5.67 | 255,699 | 49,696 |
21 | 667,581 | 5.54 | 7.08 | 262,270 | 52,600 |
22 | 569,880 | 7.89 | 5.10 | 275,588 | 50,472 |
23 | 644,684 | 6.76 | 7.22 | 277,667 | 53,409 |
24 | 605,468 | 6.39 | 5.21 | 277,816 | 52,660 |
25 | 599,213 | 6.42 | 6.00 | 279,031 | 50,464 |
26 | 610,735 | 6.82 | 6.97 | 279,934 | 49,525 |
27 | 603,830 | 7.10 | 5.30 | 287,921 | 49,489 |
28 | 617,803 | 7.77 | 6.96 | 289,358 | 49,375 |
29 | 529,009 | 8.07 | 5.76 | 294,787 | 48,254 |
30 | 573,211 | 6.91 | 5.96 | 296,246 | 46,017 |
Average | 598,412 | 6.93 | 6.16 | 244,648.73 | 50,847.83 |
SUMMARY OUTPUT | ||||||||
Regression Statistics | ||||||||
Multiple R | 0.903092399 | |||||||
R Square | 0.81557588 | |||||||
Adjusted R Square | 0.786068021 | |||||||
Standard Error | 15631.83704 | |||||||
Observations | 30 | |||||||
ANOVA | ||||||||
df | SS | MS | F | Significance F | ||||
Regression | 4 | 27015107558 | 6753776889 | 27.63927659 | 7.44276E-09 | |||
Residual | 25 | 6108858229 | 244354329.2 | |||||
Total | 29 | 33123965787 | ||||||
Coefficients | Standard Error | t Stat | P-value | Lower 95% | Upper 95% | Lower 95.0% | Upper 95.0% | |
Intercept | 131614.4445 | 74055.78904 | 1.777233707 | 0.087699772 | -20906.30814 | 284135.197 | -20906.30814 | 284135.197 |
Price (P) | -16712.96228 | 4282.784148 | -3.902359236 | 0.000636387 | -25533.52134 | -7892.40321 | -25533.52134 | -7892.40321 |
Competitor Price (Px) | 16940.39581 | 3630.194899 | 4.666525154 | 8.8436E-05 | 9463.869461 | 24416.92216 | 9463.869461 | 24416.92216 |
Advertising (Ad) | 0.17082099 | 0.096340319 | 1.773099703 | 0.088397565 | -0.02759561 | 0.369237591 | -0.02759561 | 0.369237591 |
Income (I) | 8.582484853 | 1.063625112 | 8.069088215 | 2.00808E-08 | 6.39190793 | 10.77306178 | 6.39190793 | 10.77306178 |
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