Problem:
See the following data file.
WEEKLY SALES PERIOD |
DEMAND IN CASES, Q |
PRICE PER CASE, P |
COMPETITOR PRICE, Px |
ADVERT., Ad |
INCOME, Y |
MONTH, T |
FORECAST DEMAND, Q |
1 |
1290 |
$137 |
$94 |
$814 |
$42,498 |
1 |
$1,287 |
2 |
1177 |
147 |
81 |
896 |
41399 |
2 |
1187 |
3 |
1155 |
149 |
89 |
852 |
39905 |
3 |
1188 |
4 |
1299 |
117 |
92 |
854 |
34871 |
4 |
1311 |
5 |
1166 |
135 |
86 |
810 |
34239 |
5 |
1175 |
6 |
1186 |
143 |
79 |
768 |
44452 |
6 |
1200 |
7 |
1293 |
113 |
91 |
978 |
30367 |
7 |
1317 |
8 |
1322 |
111 |
82 |
821 |
37757 |
8 |
1321 |
9 |
1338 |
109 |
81 |
843 |
40130 |
9 |
1359 |
10 |
1160 |
129 |
82 |
849 |
31264 |
10 |
1172 |
11 |
1293 |
124 |
91 |
797 |
34610 |
11 |
1262 |
12 |
1413 |
117 |
76 |
988 |
41033 |
12 |
1349 |
13 |
1299 |
106 |
90 |
914 |
30674 |
13 |
1341 |
14 |
1238 |
135 |
88 |
913 |
31578 |
14 |
1196 |
15 |
1467 |
117 |
99 |
867 |
41201 |
15 |
1430 |
16 |
1089 |
147 |
76 |
785 |
30247 |
16 |
1032 |
17 |
1203 |
124 |
83 |
817 |
33177 |
17 |
1222 |
18 |
1474 |
103 |
98 |
846 |
37330 |
18 |
1453 |
19 |
1235 |
140 |
78 |
768 |
44671 |
19 |
1230 |
20 |
1367 |
115 |
83 |
856 |
37950 |
20 |
1333 |
21 |
1310 |
119 |
76 |
771 |
43478 |
21 |
1316 |
22 |
1331 |
138 |
100 |
947 |
36053 |
22 |
1306 |
23 |
1293 |
122 |
90 |
831 |
35333 |
23 |
1300 |
24 |
1437 |
105 |
86 |
905 |
44304 |
24 |
1484 |
25 |
1165 |
145 |
96 |
996 |
30925 |
25 |
1214 |
26 |
1328 |
138 |
97 |
929 |
36867 |
26 |
1300 |
27 |
1515 |
116 |
97 |
1000 |
41799 |
27 |
1485 |
28 |
1223 |
148 |
84 |
951 |
40684 |
28 |
1238 |
29 |
1293 |
134 |
88 |
848 |
43637 |
29 |
1331 |
30 |
1215 |
127 |
87 |
891 |
30468 |
30 |
1235 |
Run a regression of sales = f(price),
sales = f(price, competitor price),
sales = (price, competitor price, advertising),
sales = f(price , Competitor price, advertising, income)
and set up the hypothesis test/t-test,
then write up the 4th regression