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It Is Believed That the Sales Volume of One-Liter Pepsi

Question 56

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It is believed that the sales volume of one-liter Pepsi bottles depends on the price of the bottle and the price of a one-liter bottle of Coca-Cola.The following data have been collected for a certain sales region. It is believed that the sales volume of one-liter Pepsi bottles depends on the price of the bottle and the price of a one-liter bottle of Coca-Cola.The following data have been collected for a certain sales region. Using Excel's regression,the linear model Pepsi Sales = β<sub>0</sub> + β<sub>1</sub>Pepsi Price + β<sub>2</sub>Cola Price + ε and the log-log model ln(Pepsi Sales)= β<sub>0</sub> + β<sub>1 </sub>ln(Pepsi Price)+ β<sub>2 </sub>ln(Cola Price)+ ε have been estimated as follows: For the estimated linear model,when the Cola Price is held constant what is the predicted change in the Pepsi Salesif the Pepsi Price increases by 10 cents? Using Excel's regression,the linear model Pepsi Sales = β0 + β1Pepsi Price + β2Cola Price + ε and the log-log model ln(Pepsi Sales)= β0 + β1 ln(Pepsi Price)+ β2 ln(Cola Price)+ ε have been estimated as follows: It is believed that the sales volume of one-liter Pepsi bottles depends on the price of the bottle and the price of a one-liter bottle of Coca-Cola.The following data have been collected for a certain sales region. Using Excel's regression,the linear model Pepsi Sales = β<sub>0</sub> + β<sub>1</sub>Pepsi Price + β<sub>2</sub>Cola Price + ε and the log-log model ln(Pepsi Sales)= β<sub>0</sub> + β<sub>1 </sub>ln(Pepsi Price)+ β<sub>2 </sub>ln(Cola Price)+ ε have been estimated as follows: For the estimated linear model,when the Cola Price is held constant what is the predicted change in the Pepsi Salesif the Pepsi Price increases by 10 cents? For the estimated linear model,when the Cola Price is held constant what is the predicted change in the Pepsi Salesif the Pepsi Price increases by 10 cents?

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The estimated linear regression model is...

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