877776 0871293 Log Log SUMMARY OUTPUT Regression Statistics Multiple R 08129741

877776 0871293 log log summary output regression

  • Lab Report
  • SargentMonkey1711
  • 23
  • 100% (1) 1 out of 1 people found this document helpful

This preview shows page 11 - 20 out of 23 pages.

7.877776 0.871293 Log-Log SUMMARY OUTPUT Regression Statistics Multiple R 0.8129741 R Square 0.660927 Adjusted R 0.6420896 Standard E 0.1094048 Observatio 20 ANOVA df SS MS F ignificance F Regression 1 0.419957 0.419957 35.08591 1.32E-005 Residual 18 0.215449 0.011969 Total 19 0.635407 Coefficients tandard Erro t Stat P-value Lower 95%Upper 95%Lower 95.0% Upper 95.0% Intercept 9.1524954 0.202575 45.18076 5.55E-020 8.726901 9.57809 8.726901 9.57809 ln(P) -1.4462737 0.244165 -5.923336 1.32E-005 -1.959246 -0.933301 -1.959246 -0.933301 Linear SUMMARY OUTPUT Quantity Produced Variable Cost Total Sales
Image of page 11
Regression Statistics Multiple R 0.7888248 R Square 0.6222446 Adjusted R 0.6012582 Standard E 358.49675 Observatio 20 ANOVA df SS MS F ignificance F Regression 1 3810600 3810600 29.64988 3.58E-005 Residual 18 2313359 128519.9 Total 19 6123959 Coefficients tandard Erro t Stat P-value Lower 95%Upper 95%Lower 95.0% Upper 95.0% Intercept 7341.6108 816.8122 8.988126 4.49E-008 5625.552 9057.67 5625.552 9057.67 Price -1932.8431 354.9647 -5.44517 3.58E-005 -2678.596 -1187.09 -2678.596 -1187.09
Image of page 12
Prediction Log-Log Linear 2139.994 1948.978 3758.71 3688.537 2383.053 2335.547 2522.7 2528.831 2676.772 2722.116 2676.772 2722.116 2676.772 2722.116 2676.772 2722.116 3488.63 3495.253 2847.46 2915.4 3249.818 3301.969 2676.772 2722.116 3758.71 3688.537 2676.772 2722.116 % 2676.772 2722.116 3488.63 3495.253 Elastic Demand (Price elasticity -> significant given standard deviation value) 3037.406 3108.684 2847.46 2915.4 3037.406 3108.684 2676.772 2722.116
Image of page 13
%
Image of page 14
Deviation Deviation^2 Log-Log Linear Log-Log Linear -72.00571 -263.0216 5184.822 69180.35 497.71 427.5373 247715.2 182788.1 429.0529 381.5471 184086.4 145578.2 -327.3003 -321.1686 107125.5 103149.3 -2.228369 43.11569 4.965627 1858.962 198.7716 244.1157 39510.16 59592.47 -238.2284 -192.8843 56752.76 37204.36 276.7716 322.1157 76602.54 103758.5 298.63 305.2529 89179.86 93179.36 -0.539827 67.4 0.291413 4542.76 395.8184 447.9686 156672.2 200675.9 -308.2284 -262.8843 95004.73 69108.16 -941.29 -1011.463 886026.9 1023057 -323.2284 -277.8843 104476.6 77219.69 -124.2284 -78.88431 15432.69 6222.735 -122.37 -115.7471 14974.42 13397.38 49.40625 120.6843 2440.978 14564.7 193.4602 261.4 37426.84 68329.96 -252.5937 -181.3157 63803.6 32875.38 38.77163 84.11569 1503.239 7075.449 RMSE 330.4485 340.0999
Image of page 15
Image of page 16
Profit = P Q - VC FC=0 2091.595 11.9433 261.2533 1028.631 Produce 287.3786 Produce 10% more the amount you expect to sell 261.2533 at the price of around $12 However, the price in the data is only $2-3. The log-log model is no Expected Sell
Image of page 17
ot the best performance. Linear model illustrates the price relationship D=[Sale-alpha(D)]/beta(D) better.
Image of page 18
Week Price ln(Sales) ln(P) 1 3000 2289 2.79 2212 7.701652 1.026042 2 5000 3854 1.89 3261 8.089789 0.636577 3 2500 1878 2.59 1954 7.577634 0.951658 4 3500 2695 2.49 2850 7.955074 0.912283 5 3500 2664 2.39 2679 7.893199 0.871293 6 3250 2543 2.39 2478 7.815207 0.871293 7 3250 2497 2.39 2915 7.977625 0.871293 8 3000 2343 2.39 2400 7.783224 0.871293 9 4000 3019 1.99 3190 8.067776 0.688135 10 3000 2362 2.29 2848 7.954372 0.828552 11 3750 2850 2.09 2854 7.956477 0.737164 12 3000 2235 2.39 2985 8.001355 0.871293 14 3000 2310 2.39 3000 8.006368 0.871293 15 3000 2330 2.39 2801 7.937732 0.871293 16 3700 2824 1.99 3611 8.19174 0.688135 17 3250 2558 2.19 2988 8.00236 0.783902 18 3000 2291 2.29 2654 7.883823 0.828552 19 3500 2673 2.19
Image of page 19
Image of page 20

You've reached the end of your free preview.

Want to read all 23 pages?

  • Spring '14
  • Apland,Jeffrey

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes