Single Problem

Get Single Problem Homework Help from Experts

Single Problem

# Demand can be estimated with experimental data, time-series

Customer Question
data, or cross-section data. In...
Demand can be estimated with experimental data, time-series data, or cross-section data. In this case, cross-section data appear in the Excel file. Soft drink consumption in cans per capita per year is related to six-pack price, income per capita, and mean temperature across the 48 contiguous states in the United States.
1. Given the data, please construct a multiple linear regression program by MS Excel.
2. Interpret each coefficient of independent variable in the soft drink demand estimated function in question 1.
3. Given your answer in question 1, please comment on whether the regression estimated function is a good fit or not. What is the interpretation of coefficient of determination (R-square)? May we use the estimated function to predict for the future demand? Explain why.
4. How many cans/capita/year on soft drink should be for a state in which 6-pack price=\$1.95, Income/Capita=\$23,500, and Mean Temp= 68°F?
5. Now omit the price and temperature from the regression equation. Should a marketing plan for soft drinks be designed that relocates most canned drink machines into low-income neighborhoods? Why or why not?
Submitted: 2 years ago.Category: Single Problem
Show More
Show Less
Customer reply replied 2 years ago
TABLE 1. SOFT DRINK DEMAND DATA
State Cans/Capita/Yr 6-Pack Price (\$) Income/Capita (\$1,000) Mean Temp. (F)
Alabama 200 2.19 11.7 66
Arizona 150 1.99 15.3 62
Arkansas 237 1.93 9.9 63
California 135 2.59 22.5 56
Connecticut 118 2.49 24.3 50
Delaware 217 1.99 25.2 52
Florida 242 2.29 16.2 72
Georgia 295 1.89 12.6 64
Idaho 85 2.39 14.4 46
Illinois 114 2.35 21.6 52
Indiana 184 2.19 18 52
Iowa 104 2.21 14.4 50
Kansas 143 2.17 15.3 56
Kentucky 230 2.05 11.7 56
Louisiana 269 1.97 13.5 69
Maine 111 2.19 14.4 41
Maryland 217 2.11 18.9 54
Massachusetts 114 2.29 19.8 47
Michigan 108 2.25 18.9 47
Minnesota 108 2.31 16.2 41
Mississippi 248 1.98 9 65
Missouri 203 1.94 17.1 57
Montana 77 2.31 17.1 44
New Hampshire 177 2.27 16.2 35
New Jersey 143 2.31 21.6 54
New Mexico 157 2.17 13.5 56
New York 111 2.43 22.5 48
North Carolina 330 1.89 11.7 59
North Dakota 63 2.33 12.6 39
Ohio 165 2.21 19.8 51
Oklahoma 184 2.19 14.4 82
Oregon 68 2.25 17.1 51
Pennsylvania 121 2.31 18 50
Rhode Island 138 2.23 18 50
South Carolina 237 1.93 10.8 65
South Dakota 95 2.34 11.7 45
Tennessee 236 2.19 11.7 60
Texas 222 2.08 15.3 69
Utah 100 2.37 14.4 50
Vermont 64 2.36 14.4 44
Virginia 270 2.04 14.4 58
Washington 77 2.19 18 49
West Virginia 144 2.11 13.5 55
Wisconsin 97 2.38 17.1 46
Wyoming 102 2.31 17.1 46
Customer reply replied 2 years ago
hey I add data of the problem
Customer reply replied 2 years ago
hey, how long it/ll take ?
Customer reply replied 2 years ago
I am running out of time, If you have no answer yet, I have to go to other place to look for the answers,
Customer reply replied 2 years ago
over an hour since I've send my question , where are you ?
Customer reply replied 2 years ago
hey I am out of time
Customer reply replied 2 years ago
Hey, I do not need your help, due to I've solved it by myself, thank you , I assume you do not going to charge any fees , thank you
10/20/2015
Business Tutor: F. Naz, B.Com replied 2 years ago
F. Naz, B.Com
Category: Single Problem
Satisfied Customers: 5,345
Experience: Have completed B.Com and CA Finalist
Verified

Can provide the answer in next 24 hours.

linda_us, Master's Degree
Category: Single Problem
Satisfied Customers: 787
787 Satisfied Customers
Experience: A tutor for Business, Finance, Accounts and other related topics.

linda_us is online now

A new question is answered every 9 seconds

• Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
• Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

## What Customers are Saying:

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

I couldn't be more satisfied! This is the site I will always come to when I need a second opinion.

JustinKernersville, NC

Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around.

EstherWoodstock, NY

Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know.

RobinElkton, Maryland

He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here.

DianeDallas, TX

< Previous | Next >

## Meet the Experts:

linda_us

Master's Degree

787 satisfied customers

A tutor for Business, Finance, Accounts and other related topics.

Manal Elkhoshkhany

Bachelor's Degree

491 satisfied customers

Finished my BA degree with a GPA of 4.0.

F. Naz

B.Com

5,345 satisfied customers

Have completed B.Com and CA Finalist

Mr. Gregory White

Master's Degree

279 satisfied customers

M.A., M.S. Education / Educational Administration

Bizhelp

CPA

265 satisfied customers

BA degree and Certified Public Accountant

Dave CPA

Accountant

98 satisfied customers

Sound knowledge base in accounting and finance.

MyVirtualCPA

Master's Degree

96 satisfied customers

Master's Degree in Accounting with excellent math and reasoning skills

< Previous | Next >

Related Single Problem Questions
What is the final amount of \$105.00 that is put into a
What is the final amount of \$105.00 that is put into a savings account work 8% interest rate for 25 yesterday, if the interest is compounded 4 times a year? … read more
Dr. Donna Kakonge
Doctor of Education
191 satisfied customers
I am self-employed. I relocated temporarily to so I can work
I am self-employed. I relocated temporarily to Virginia so I can work while my home recovers from hurricane. I read the IRS allows deductions for temporary housing and transportation costs as business… read more
Barbara
Enrolled Agent, Paralegal
3,483 satisfied customers
Florida Home Health is a small home care agency owned by a
For Manal Elkhoshkhany Florida Home Health is a small home care agency owned by a group practice of nurses and physical therapists in Tampa, Florida. During the past few years, the company reported th… read more
Manal Elkhoshkhany
Bachelor's Degree
491 satisfied customers
You are the resident tax expert for Wetzel's Pretzels, an
You are the resident tax expert for Wetzel's Pretzels, an international producer of junk food. The controller has come to you with the company's capital expenditures budget for next year. The budget s… read more
Manal Elkhoshkhany
Bachelor's Degree
491 satisfied customers
Hand written tax return #4 is not in the book and it's NOT
Hand written tax return #4 is not in the book and it's NOT hand written. Please do this return on the COMPUTER, but this is not a group tax return! Please do this on your own. The information is in th… read more
Dr. Donna Kakonge
Doctor of Education
191 satisfied customers
You are the resident tax expert for Wetzel's Pretzels, an
You are the resident tax expert for Wetzel's Pretzels, an international producer of junk food. The controller has come to you with the company's capital expenditures budget for next year. The budget s… read more
F. Naz
B.Com
5,345 satisfied customers
In problem 89 of Chapter 9, you were asked to determine the
In problem 89 of Chapter 9, you were asked to determine the initial basis of Emelio and Charita's business, investment, and personal use assets. In this problem, you are to determine the adjusted basi… read more
Manal Elkhoshkhany
Bachelor's Degree
491 satisfied customers
You are the resident tax expert for Wetzel's Pretzels, an
You are the resident tax expert for Wetzel's Pretzels, an international producer of junk food. The controller has come to you with the company's capital expenditures budget for next year. The budget s… read more
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
INCLUDE THIS ******* AS A FIRST NAME JASPER ******* AS A
PLEASE INCLUDE THIS DAVID ******* AS A FIRST NAME JASPER ******* AS A LAST NAME Please read the entire problem for David and Darlene Jasper starting on pages 6-69 before entering any information in yo… read more
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
Develop a progressive yet competitive compensation plan that
Develop a progressive yet competitive compensation plan that will support recruiting and retention efforts and lower the employee turnover rate. Traditionally, Motors and More has provided employees m… read more
Dr. Donna Kakonge
Doctor of Education
191 satisfied customers
I like to address this to a teacher. Who has or is teaching
Hello: I like to address this to a teacher. Who has or is teaching at the Community College level. Or a school administrator at the Junior College level. This is my 3rd semester at San Diego City Coll… read more
Dr. Donna Kakonge
Doctor of Education
191 satisfied customers
FOR MANAL ELKHOSHKHANY Assignment Steps Resources: OECD
FOR MANAL ELKHOSHKHANYAssignment Steps Resources: OECD Database, Corporate Finance Prepare a 12- to 15-slide PowerPoint® presentation with speaker notes requesting initial funding of \$500,000 to start… read more
Dr. Donna Kakonge
Doctor of Education
191 satisfied customers
You are to submit the tax return which is generated by
You are to submit the tax return which is generated by Appendix A, Phases One and Two. Phase Two builds on Phase One. Pay close attention, because some of the new information in Phase Two may change t… read more
Manal Elkhoshkhany
Bachelor's Degree
491 satisfied customers
I'm replacing the wheles on a bed frame. I need to replace
I'm replacing the wheles on a bed frame. I need to replace the plastic inserts that go into the frame so the caster stems fit and swivel. What are the plastic inserts called? I want to order them but … read more
F. Naz
B.Com
5,345 satisfied customers
On January 1, 2014, Seller Corp and Buyer Corp closed on the
On January 1, 2014, Seller Corp and Buyer Corp closed on the sale of a factory building for \$30,000,000 with the following payment terms: Buyer Corp paid \$3,000,000 at closing. Buyer Corp assumed \$7,0… read more
F. Naz
B.Com
5,345 satisfied customers
Question #4. New Beginnings Corp. began 2XXX with the
Question #4. New Beginnings Corp. began 2XXX with the following account balances. … read more
Dr. Donna Kakonge
Doctor of Education
191 satisfied customers
Emelio and Charita are married taxpayers with 2 dependent
Emelio and Charita are married taxpayers with 2 dependent children. Emelio starts a computer consulting business in 2017. Charita works as a real estate broker. Dur- ing 2017, they have the following … read more
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
Morningside Nursing Home, a single not-for-profit facility,
For Manal Elkhoshkhany Morningside Nursing Home, a single not-for-profit facility, is estimating its corporate cost of capital. Its tax-exempt debt currently requires an interest rate of 6.2 percent, … read more
Manal Elkhoshkhany
Bachelor's Degree
491 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less