Suppose the Kalamazoo Brewing Company (KBC) currently sells its microbrews in a seven-state area: Illinois, Indiana, Mic

[answerhappygod]

Suppose The Kalamazoo Brewing Company Kbc Currently Sells Its Microbrews In A Seven State Area Illinois Indiana Mic 1 (385.34 KiB) Viewed 52 times

Suppose the Kalamazoo Brewing Company (KBC) currently sells its microbrews in a seven-state area: Illinois, Indiana, Michigan, Minnesota, Mississippi, Ohio, and Wisconsin. The company's data analytics department has collected data from its distributors in each state. This data consists of the quantity and price (per case) of microbrews sold in each state, as well as the average income (in thousands of dollars) of consumers living in various regions of each state. The data for each state are available via the link below-- please note there are multiple tabs at the bottom of the spreadsheet, each refers to one of the seven states selling the Kalamazoo Brewing Company's microbrews. Excel Data File: Assuming that the underlying demand relation is a linear function of price and income, use your spreadsheet program to obtain least squares estimates of Ohio's demand for KBC microbrews. Instruction: If the estimate is negative, enter a negative number (-) in the equation. Enter your responses rounded to two decimal places. = + Price + Income

Quantity 575 674 616 183 501 578 590 445 603 713 337 230 403 383 568 698 826 789 645 601 467 429 552 553 562 352 611 346 354 401 253 524 ► 211 666 468 585 578 656 571 454 510 672 499 560 848 617 530 649 824 626 Price Income 31.26 33.95 30.69 35.51 31.54 28.78 27.41 30.44 29.75 31.28 29.48 33.77 28.94 38.31 28.17 34.01 28.58 32.53 28.57 31.69 30.06 32.26 29.36 31.57 28.81 32.75 32.52 29.48 32.02 35.91 32.91 34.85 28.45 34.06 26.85 38.92 30.49 35.94 31.72 38.05 31.23 36.48 31.28 37.61 28.89 38.29 31.13 36.9 39.22 34.21 33.97 38.53 34.4 34.01 34.24 27.52 30.02 31.38 29.08 28.8 27.64 30.47 30.97 32.85 30.11 29.48 28.41 29.96 30.46 32.86 28.49 30.67 31.92 28.44 27.94 29.74 29.54 31.34 30.08 29.13 31.72 Data for IL 38.29 34.66 41.38 32.14 29.16 35.05 37.11 32.94 32.7 33.14 33.73 41.92 35.06 32.71 37.96 37.38 35.55 42.89 37.17 Da

Quantity 83 83 97 103 101 88 81 99 98 103 102 88 105 98 93 88 92 92 86 93 ▲ 86 87 108 88 98 92 93 99 105 88 97 93 101 90 106 87 98 89 83 104 97 76 98 82 94 99 89 75 92 97 Price Income 30.85 31.94 30.69 32.27 32.39 30.01 30.35 30.58 30.1 27.43 27.02 30.24 28.84 29.57 31.17 32.17 32.21 29.43 34.07 29.79 35.54 30.13 26.26 33.13 30.3 27.94 32.07 30.51 27.23 33.37 29.75 29.44 28.6 30.71 32.35 32.57 31.61 30.08 34.49 27.52 30.08 34.35 28.59 34.75 29.51 30.72 35.61 36.19 30.78 32.75 Data for IL 31.9 31.77 36.86 40.79 37.06 34.03 33.52 32.78 37.02 35.88 36.01 32.55 37.14 33.84 35.82 35.68 36.24 33.66 34.85 32.51 34.97 33.81 35.24 37 38.6 30.02 36.88 36.15 36.09 36.44 34.99 31.71 34.46 32.6 40.61 36.37 37.34 32.81 34.1 32.3 35.26 32.25 33.53 34.15 33.95 35.66 34.48 34.09 35.15 37.34 Data for IN

Quantity 210 198 195 204 218 178 198 194 T 205 217 181 196 193 185 175 190 199 191 228 180 205 190 192 199 201 217 188 187 191 190 200 217 219 205 206 230 200 209 211 209 190 209 196 181 176 176 200 215 206 201 Price 33.19 32.83 31.7 28.75 25.79 35.25 24.71 32.09 28.73 24.97 29.89 29.35 34.28 31.02 42.08 21.05 29.25 31.45 24.66 28.82 28.75 39.93 39.79 35.61 30.15 30 41.05 35.83 35.63 31.11 27.78 27.74 33.94 28.05 32.73 22.12 27.37 31.31 28.94 31.07 34.56 24.13 27.51 32.22 31.84 33.7 39.6 37.53 36.11 23.74 Data for IL Income 35.34 34.59 32.61 35.12 32.2 25.69 28.19 36.99 37.09 34.85 34.61 32.9 36.14 32.93 31.65 35.19 36.98 30.2 35.42 28.99 40.29 30.94 39.31 38 30.14 37.43 34.15 25.26 32.22 34.51 34.87 40.66 45.71 41.37 32.22 31.61 38.76 32.35 43.18 33.53 31.7 38.71 27.8 33.2 28.42 29.33 29.14 40.9 37.64 36.1 Data for IN Data for MI

Quantity 365 341 377 419 387 387 392 323 409 388 376 360 291 338 347 363 358 350 383 319 415 340 377 356 347 393 396 377 372 342 389 360 364 351 415 379 425 347 374 346 335 333 293 410 333 396 307 415 354 334 Price 35.8 27.62 25.71 26.59 32.83 25.05 33.49 29.81 28.69 29.03 30.68 29.84 25.52 26.61 29.55 33.62 28.3 26.9 34.82 31.37 29.22 24.3 29.94 33.37 25.85 26 25.7 26.87 25.52 33.33 42.07 23.13 33.67 26.36 25.65 24 33.06 30.68 30.36 29.4 28.37 36.13 25.3 29.65 32.4 26.47 31.6 36.1 33.21 28.74 Income 37.77 35.37 35.67 43.91 37.68 36.26 36.38 29.11 39.77 37.16 35.37 33.84 30.06 33.2 32.48 36.24 36.17 32.81 37.07 27.08 41.36 ) ► Data for MS 33.82 38.41 37.06 33.81 36.5 40.09 34.68 32.69 32.78 42.16 32.05 34.43 32.81 37.39 38.9 45.55 33.19 35.13 33.21 33.35 30.35 27.51 39.52 31.98 39.38 33.17 40.35 35.48 31.35 D

Quantity 286 75 351 313 368 316 203 205 321 233 261 148 301 270 267 136 394 259 271 264 344 381 399 134 158 299 205 347 226 249 231 306 363 292 379 419 305 92 273 193 333 191 164 257 311 408 281 310 308 285 Price 28.09 27.68 28.48 30.24 28.4 26.83 28.18 30.91 30.87 31.56 31.51 30.18 31.95 30.31 27.16 30.25 31.03 30.19 30.82 32.69 28.53 29 30.36 29.34 28.05 25.08 25.15 28.6 32.75 29.01 30.53 28.46 30.64 33.88 29.34 29.76 31.41 29.76 29.7 26.37 32.81 28.22 29.38 27.25 30.57 30.07 28.3 28.29 33.85 29.69 Income 36.08 5.17 43.92 37.28 47.62 37.65 23.22 22.62 41.12 28.3 32.3 Data for OH 17.17 37.68 34.39 31.65 15.71 51.04 31.05 32.53 35.04 43.82 48.94 51.63 14.3 14.67 35 24.15 44.22 27.24 29.41 28.61 36.06 46.77 37.25 49.01 52.13 33.75 8.7 31.09 22.47 44.68 21 18.98 27.92 36.99 54.36 36.64 38.53 43.3 35.18 C

Quantity 309 341 600 298 241 202 654 459 490 399 351 157 457 322 306 536 416 411 628 393 446 288 432 350 423 316 275 342 454 239 368 407 252 151 314 451 395 229 340 415 476 285 345 420 394 443 393 269 565 515 Price 29.77 26.49 28.56 32.38 26.15 30.37 27.29 29.44 32.83 36.68 27.39 29.46 28.49 29.16 29.91 32.3 26.44 32.12 29.84 32.37 28.59 32.14 32.22 31.52 31.81 33.36 33.44 28.14 26.04 30.37 32.19 30.84 31.56 33.11 31.42 34.14 30.52 25.32 28.66 32.2 32.52 26.36 30.79 35.14 34.1 28.5 25.72 30.64 31.27 26.23 Data for WI Income 25.59 28.16 54.66 26.15 17.63 14.63 60.42 40.15 44.4 36.91 29.81 10.93 40.72 27.29 25.48 48.43 36.27 35.94 57.61 33.75 39.46 24.19 38.45 29.52 38.05 27.18 24.07 29 40.16 19.74 32.02 35.43 20.19 10.8 26.46 40.69 34.81 17.36 28.36 37.04 43.47 22.97 29.52 38.4 35.73 38.81 33.23 22.66 51.13 46.6 Da

Quantity 183 207 183 192 182 217 180 195 200 198 195 205 182 218 231 212 222 150 183 158 199 196 234 171 171 170 210 184 223 177 168 192 201 207 241 216 193 187 194 212 141 217 194 182 225 214 198 183 206 198 Price 29.25 30.1 30.54 28.67 30.23 29.76 31.77 31.01 29.21 30.79 29.75 29.98 30.06 28.94 29.76 27.94 30.75 28.96 30.96 29.03 30.83 30.6 29.98 29.27 31.42 29.24 27.61 30.64 29.97 31.87 30.06 28.83 30.91 29.84 29.94 30.67 31.03 28.45 30.02 30.85 30.46 28.85 29.34 30.1 28.88 30.2 28.56 29.51 29.86 30.83 Income 30.72 37.57 29.43 37.2 35.87 35.16 27.7 32.96 32.3 36.1 32.68 37.49 31.32 38.67 34.82 42.27 40.03 30.02 34.3 29.89 35.27 33.55 40.03 29.91 33.69 31.51 30.6 34.36 37.59 31.78 27.47 40.64 36.2 38.05 39.55 35.38 40.42 37.29 29.68 40.61 Data for MN 28.23 36.87 36.59 29.56 36.26 34.29 41.7 30.92 31.22 32.39