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Suppose the Kalamazoo Brewing Company (KBC) currently sells its microbrews in a seven-state area: Illinois, Indiana, Michigan, Minnesota, Mississippi, Ohio, and Wisconsin. The company's marketing

Suppose the Kalamazoo Brewing Company (KBC) currently sells its microbrews in a seven-state area: Illinois, Indiana, Michigan, Minnesota, Mississippi, Ohio, and Wisconsin. The company's marketing department has collected data from its distributors in each state. This data consists of the quantity and price (per case) of microbrews sold in each state, as well as the average income (in thousands of dollars) of consumers living in various regions of each state. The data for each state are available via the link below--please note there are multiple tabs at the bottom of the spreadsheet, each refers to one of the seven states selling the Kalamazoo Brewing Company's microbrews.

Assuming that the underlying demand relation is a linear function of price and income, use your spreadsheet program to obtain least squares estimates if Indiana's demand for KBC microbrews.

Instruction: if the estimate is negative, enter a negative number in the equation. Enter your response rounded to two decimal places.

Q=___ +___Price +___Income

Quantity Price Income
83 30.85 31.9
83 31.94 31.77
97 30.69 36.86
103 32.27 40.79
101 32.39 37.06
88 30.01 34.03
81 30.35 33.52
99 30.58 32.78
98 30.1 37.02
103 27.43 35.88
102 27.02 36.01
88 30.24 32.55
105 28.84 37.14
98 29.57 33.84
93 31.17 35.82
88 32.17 35.68
92 32.21 36.24
92 29.43 33.66
86 34.07 34.85
93 29.79 32.51
86 35.54 34.97
87 30.13 33.81
108 26.26 35.24
88 33.13 37
98 30.3 38.6
92 27.94 30.02
93 32.07 36.88
99 30.51 36.15
105 27.23 36.09
88 33.37 36.44
97 29.75 34.99
93 29.44 31.71
101 28.6 34.46
90 30.71 32.6
106 32.35 40.61
87 32.57 36.37
98 31.61 37.34
89 30.08 32.81
83 34.49 34.1
104 27.52 32.3
97 30.08 35.26
76 34.35 32.25
98 28.59 33.53
82 34.75 34.15
94 29.51 33.95
99 30.72 35.66
89 35.61 34.48
75 36.19 34.09
92 30.78 35.15
97 32.75 37.34

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