(Solved) : 4 Using Log Log Model Estimate Demand Function Data Sales Interactionsxsls Model Log Sales Q44082210 . . .
4. Using Log-log model to estimate the demand function
• Data: “sales with interactions.xsls”
• Model: log(sales) = a + b * log(price) + error
• Explain the results in term of how price affects sales.
Market IDSalesPriceAdvertising13672.2Yes21652.7No33662.4Yes41482.9No51522.8No61982.2No73902Yes83672.3Yes92102.1No103532.7Yes111512.8No123482.6Yes131682.6No141472.9No153512.6Yes
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Answer to 4. Using Log-log model to estimate the demand function • Data: “sales with interactions.xsls” • Model: log(sales…
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