Business, 19.10.2021 14:00 Spencerg325

Quantity of Automobile Lube Jobs # Q P # Cars Adv Pr 1 86 30 22.0 500 20 2 87 35 23.0 550 29 3 93 28 23.4 430 31 4 92 25 23.0 400 35 5 86 30 23.6 500 29 6 93 20 24.0 400 30 7 88 29 24.1 300 35 8 89 31 24.5 450 28 9 88 35 25.0 430 25 10 93 29 25.6 500 30 11 87 35 26.0 400 29 12 89 40 26.0 570 31 13 88 47 26.7 520 35 14 82 34 27.3 300 29 15 93 35 28.0 450 35 Average 88.93 32.20 24.81 446.67 30.07 1. Run the data through Excel Regression - print output (10%) 2. Evaluate the statistical significance of the equation and each of the parameters - (10%) 3. Generate the specific form of the equation using average values of the original data (5%) 4. Calculate the inverse form of the demand equation (5%) 5. Calculate the elasticity coefficients of each of the parameters using the function and average values of the dataset (20%) 6. Using the own-price elasticity you calculated in #5 above what effect would a price increase have on total revenue (10%)

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Quantity of Automobile Lube Jobs # Q P # Cars Adv Pr 1 86 30 22.0 500 20 2 87 35 23.0 550 29 3 93 28...

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