ECO 550 Assignment 1 Demand Estimation

Date Published: 09 October, 2017

Assignment 1: Demand Estimation
Due Week 3 and worth 200 pointsImagine that you work for the maker of a leading brand of low-calorie, frozen microwavable food that estimates the following demand equation for its product using data from 26 supermarkets around the country for the month of April.For a refresher on independent and dependent variables, please go to Sophia’s Website and review the Independent and Dependent Variables tutorial, located athttp://www.sophia.org/tutorials/independent-and-dependent-variables--3.Option 1
Note: The following is a regression equation. Standard errors are in parentheses for the demand for widgets.
QD       =          - 5200 - 42P + 20PX + 5.2I + 0.20A + 0.25M
(2.002)  (17.5) (6.2)    (2.5)   ...

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