MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Estimated Demand Function:ln(Q) = -6.758 – 2.116ln(P) + 1.331ln(l) – 0.44ln(A) + 2.99ln(Psub) + 0.908ln(Pop)

  1. Suppose we decide to charge a per ounce price of $2, while at the same time our rival charges a price of $2.15. All else equal, what would you expect sales to be? How confident are you in your forecast? 
### Descriptive Statistics of Various Variables The table below presents descriptive statistics for six different variables labeled as \(Q\), \(P\), \(I\), \(A\), \(P_{\text{sub}}\), and \(Pop\). #### Summary Statistics: - **Mean:** - \(Q\): 34.822 - \(P\): 1.990 - \(I\): 29.040 - \(A\): 4.631 - \(P_{\text{sub}}\): 2.113 - \(Pop\): 123.395 - **Standard Error:** - \(Q\): 1.353 - \(P\): 0.016 - \(I\): 0.444 - \(A\): 0.187 - \(P_{\text{sub}}\): 0.022 - \(Pop\): 3.205 - **Median:** - \(Q\): 33.695 - \(P\): 1.990 - \(I\): 29.200 - \(A\): 4.410 - \(P_{\text{sub}}\): 2.085 - \(Pop\): 122.800 - **Standard Deviation:** - \(Q\): 6.050 - \(P\): 0.073 - \(I\): 1.984 - \(A\): 0.835 - \(P_{\text{sub}}\): 0.098 - \(Pop\): 14.335 - **Sample Variance:** - \(Q\): 36.602 - \(P\): 0.005 - \(I\): 3.935 - \(A\): 0.697 - \(P_{\text{sub}}\): 0.010 - \(Pop\): 205.496 #### Shape Characteristics: - **Kurtosis:** - \(Q\): 0.340 - \(P\): -1.323 - \(I\): 1.368 - \(A\): -0.554 - \(P_{\text{sub}}\): 2.041 - \(Pop
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Transcribed Image Text:### Descriptive Statistics of Various Variables The table below presents descriptive statistics for six different variables labeled as \(Q\), \(P\), \(I\), \(A\), \(P_{\text{sub}}\), and \(Pop\). #### Summary Statistics: - **Mean:** - \(Q\): 34.822 - \(P\): 1.990 - \(I\): 29.040 - \(A\): 4.631 - \(P_{\text{sub}}\): 2.113 - \(Pop\): 123.395 - **Standard Error:** - \(Q\): 1.353 - \(P\): 0.016 - \(I\): 0.444 - \(A\): 0.187 - \(P_{\text{sub}}\): 0.022 - \(Pop\): 3.205 - **Median:** - \(Q\): 33.695 - \(P\): 1.990 - \(I\): 29.200 - \(A\): 4.410 - \(P_{\text{sub}}\): 2.085 - \(Pop\): 122.800 - **Standard Deviation:** - \(Q\): 6.050 - \(P\): 0.073 - \(I\): 1.984 - \(A\): 0.835 - \(P_{\text{sub}}\): 0.098 - \(Pop\): 14.335 - **Sample Variance:** - \(Q\): 36.602 - \(P\): 0.005 - \(I\): 3.935 - \(A\): 0.697 - \(P_{\text{sub}}\): 0.010 - \(Pop\): 205.496 #### Shape Characteristics: - **Kurtosis:** - \(Q\): 0.340 - \(P\): -1.323 - \(I\): 1.368 - \(A\): -0.554 - \(P_{\text{sub}}\): 2.041 - \(Pop
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