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The linear model Pepsi Sales = 0 + 1Pepsi Price + 2Cola Price + and the log-log model ln(Pepsi Sales) = 0 + 1ln(Pepsi Price)
The linear model Pepsi Sales = 0 + 1Pepsi Price + 2Cola Price + and the log-log model ln(Pepsi Sales) = 0 + 1ln(Pepsi Price) + 2ln(Cola Price) + have been estimated as follows: Variable Linear Model Log-Log Model Intercept 10,982.5223 8.9703 Pepsi Price 5,528.7557 N/A Cola Price 2,364.5870 N/A ln(Pepsi Price) N/A 1.2709 ln(Cola Price) N/A 0.2692 R2 0.9568 0.9904 Adjusted R2 0.9531 0.9895 Standard Error se 594.2299 0.0434 Using the linear model, calculate the predicted Pepsi Sales when the Pepsi Price is $1.50 and the Cola Price is $1.25
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