Answer to Question #187081 in Economics for Uneeb

Question

As a case study, select data about price, prices of substitutes, advertisement and trends and quantity demanded of any product such as Soft Drink (Pepsi), Fast food (Pizza Line), Cellular Services (Mobilink) etc. for  “Demand Estimation" delving into the factors affecting the Products’ consumption and the ways to enhance its sales. It likewise looks into the factors positively or negatively affecting demand and sales.

Case Study questions 

Estimate the demand for soft drinks using a multiple regression program on your computer.

Interpret the coefficients and calculate the price elasticity of soft drink demand.

Answer 1

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