SUMMARY OUTPUT

Regression Statistics
Multiple R 0.9629020806
R Square 0.9271804169
Adjusted R Square 0.9165238925
Standard Error 1441.7271857
Observations 48

ANOVA
df SS MS F Significance F
Regression 6 1085090831.6 180848471.933 87.005892847 9.9352713E-22
Residual 41 85221668.4025 2078577.27811
Total 47 1170312500

Coefficients Standard Error t Stat P-value Lower 95%

Intercept -4516.291428 4988.24232223 -0.90538733615 0.3705501711 -14590.251058
Price -3598.500601 701.86814468 -5.12703223262 7.446782E-06 -5015.9520593
Adv 0.203713184 0.07729212619 2.63562660315 0.0118022744 0.04761857018
Psub 3795.9780868 706.518256017 5.37279547194 3.357174E-06 2369.13553805
Income 0.7770511727 0.06642341019 11.6984534593 1.209483E-14 0.6429063759
Pop 0.0002555192 0.00012530028 2.03925485064 0.0479053732 2.4701576E-06
Time 356.04709713 92.287768393 3.85800960771 0.0003965852 169.668169841

New Sales Change in Q

Sales 29028.765613 Price Change 28830.84808 -0.0068413016
Price 5.5 1% 5.555
Adv 3750
Psub 4.75 Income Change 29339.586082 0.01070732642
Income 40000 1% 40400
Pop 1000000
Time 9
Upper 95%Lower 95.0%
Upper 95.0%
5557.668 -14590.25 5557.668
-2181.049 -5015.952 -2181.049
0.359808 0.047619 0.359808
5222.821 2369.136 5222.821
0.911196 0.642906 0.911196
0.000509 2.47E-06 0.000509
542.426 169.6682 542.426

Elasticity Price
-0.68413

Elasticity Income
1.070733
 Yr./Qtr. Sales Price Adv Psub Income Pop Time
Atlanta 1995-1 22,500 $6.00 $5,000.00 $4.25 $39,500.00 2,150,000 1
1995-2 25,000 $5.25 $7,500.00 $3.75 $39,500.00 2,150,000 2
1995-3 22,500 $5.00 $7,500.00 $3.25 $39,000.00 2,250,000 3
1995-4 27,500 $5.25 $10,000.00 $4.00 $39,500.00 2,300,000 4
1996-1 25,000 $5.75 $5,000.00 $4.00 $39,500.00 2,350,000 5
1996-2 25,000 $5.75 $10,000.00 $3.75 $40,000.00 2,450,000 6
1996-3 25,000 $6.00 $7,500.00 $3.75 $40,500.00 2,500,000 7
1996-4 27,500 $5.50 $10,000.00 $3.75 $41,500.00 2,650,000 8
Baltimore 1995-1 22,500 $6.00 $7,500.00 $4.00 $38,500.00 2,150,000 1
1995-2 22,500 $6.25 $5,000.00 $4.00 $39,000.00 2,200,000 2
1995-3 22,500 $5.50 $5,000.00 $3.75 $39,000.00 2,200,000 3
1995-4 22,500 $6.00 $5,000.00 $4.00 $39,000.00 2,250,000 4
1996-1 25,000 $5.50 $5,000.00 $4.00 $39,000.00 2,200,000 5
1996-2 27,500 $5.25 $10,000.00 $4.25 $39,500.00 2,250,000 6
1996-3 25,000 $6.00 $5,000.00 $4.00 $39,500.00 2,300,000 7
1996-4 27,500 $6.00 $5,000.00 $4.25 $40,000.00 2,300,000 8
Chicago 1995-1 27,500 $5.75 $5,000.00 $3.75 $44,000.00 6,050,000 1
1995-2 25,000 $6.00 $5,000.00 $4.50 $44,500.00 6,100,000 2
1995-3 30,000 $5.75 $15,000.00 $3.50 $44,500.00 6,250,000 3
1995-4 30,000 $5.50 $5,000.00 $3.75 $45,000.00 6,200,000 4
1996-1 22,500 $6.00 $10,000.00 $3.50 $44,500.00 6,150,000 5
1996-2 27,500 $6.00 $5,000.00 $3.75 $45,000.00 6,100,000 6
1996-3 32,500 $5.50 $15,000.00 $3.75 $45,500.00 6,150,000 7
1996-4 32,500 $6.00 $5,000.00 $4.00 $46,000.00 6,200,000 8
Denver 1995-1 30,000 $5.50 $10,000.00 $4.25 $46,500.00 1,450,000 1
1995-2 27,500 $5.75 $10,000.00 $3.50 $47,000.00 1,450,000 2
1995-3 25,000 $6.00 $5,000.00 $3.25 $46,500.00 1,500,000 3
1995-4 27,500 $5.50 $5,000.00 $3.50 $46,000.00 1,550,000 4
1996-1 30,000 $6.00 $12,500.00 $4.00 $46,500.00 1,550,000 5
1996-2 32,500 $5.50 $7,500.00 $4.25 $47,000.00 1,600,000 6
1996-3 32,500 $5.75 $10,000.00 $4.00 $47,000.00 1,650,000 7
1996-4 35,000 $5.00 $15,000.00 $4.00 $47,500.00 1,600,000 8
Erie 1995-1 17,500 $5.75 $2,500.00 $4.00 $34,000.00 280,000 1
1995-2 15,000 $5.75 $5,000.00 $3.50 $34,000.00 275,000 2
1995-3 17,500 $5.75 $2,500.00 $3.75 $34,000.00 270,000 3
1995-4 15,000 $6.25 $2,500.00 $3.25 $34,000.00 265,000 4
1996-1 17,500 $5.75 $2,500.00 $3.50 $34,500.00 270,000 5
1996-2 15,000 $6.00 $5,000.00 $3.75 $34,500.00 285,000 6
1996-3 17,500 $6.25 $2,500.00 $3.75 $35,000.00 290,000 7
1996-4 17,500 $6.00 $2,500.00 $3.75 $35,500.00 300,000 8
Ft. Lauderdale 1995-1 25,000 $5.75 $10,000.00 $4.00 $43,500.00 1,025,000 1
1995-2 27,500 $6.00 $12,500.00 $4.00 $43,500.00 1,050,000 2
1995-3 30,000 $5.75 $12,500.00 $4.25 $44,000.00 1,100,000 3
1995-4 30,000 $5.50 $7,500.00 $4.25 $44,500.00 1,350,000 4
1996-1 25,000 $6.25 $5,000.00 $3.75 $44,500.00 1,450,000 5
1996-2 27,500 $6.25 $5,000.00 $4.50 $45,000.00 1,300,000 6
1996-3 27,500 $6.25 $12,500.00 $3.50 $46,000.00 1,450,000 7
1996-4 27,500 $6.25 $5,000.00 $4.00 $46,000.00 1,500,000 8
Data from: Case Study for Chapter 5, Hirschey and Pappas Fundamentals of Managerial Economics