ECS2731_2017_Tutorial 4_Questions.pdf

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ECS273_2017_S2_Tutorial 4_Questions 1 1. Using Excel or another program, use Sherwin-Williams Paint Company data below to answer the following questions: SALES REGION SALES (Y) (*1000 gallons SELLING PRICE (P) (\$/gallons) PROMOTIONAL EXPENDITURES (A) (*\$1000) DISPOSABLE INCOME (M) (*\$1000) 1 160 15 150 19.0 2 220 13.50 160 17.5 3 140 16.50 50 14.0 4 190 14.50 190 21.0 5 130 17 90 15.5 6 160 16 60 14.5 7 200 13 140 21.5 8 150 18 110 18.0 9 210 12 200 18.5 10 190 15.50 100 20.0 QUESTIONS a. Suppose that only promotional expenditures are used to predict paint sales; what is the estimated regression model? b. What is the estimated multiple linear demand model? c. What is the interpretation of the price coefficient; in the multiple linear demand model? d. What are the estimated regional sales when promotional expenditures are \$185 000 (i.e. A=185), selling price is \$15.00 (P), and disposable income per household is \$19 500 (i.e. M=19.5). 2. Lenny's, a national restaurant chain, conducted a study of the factors affecting demand (sales). The following variables were defined and measured for a
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