MBA Managerial Economics: Estimate and analyze the demand for Turkey. (Report & Excel file) 8 pages to include screenshot exhibits to back up the report.
MBA Managerial Economics: Estimate and analyze the demand for Turkey
MBA Managerial Economics.
Our group needs to estimate and analyze the demand for Turkey. (Report & Excel file) 8 pages to include screenshot exhibits to back up the report.
The data set includes information on the quantities consumed of this good. (A proxy for the quantities demanded for this good). Also, the price per unit of this good. The price per unit of at least one related good in consumption (substitute or complementary good). Lastly, a proxy for consumer income.
We will provide/attach the raw data you will use in this study.
Please create an excel spreadsheet with this data.
You will use excel to run a linear regression analysis of the data.
We don’t know what the real demand for this good is but we can use linear regression analysis to obtain parameter estimates of a linear approximation of it. In other words, if the unknown demand for this good is
QD = F (P; PR, M)
Where QD is the quantity demanded for this good. P is the price per unit. PR is the price of the related good(s) in consumption (substitute or complement) and M is consumer income.
A linear approximation of this demand equation is
QD = a + b P + c PR + d M
You will use the data provided and excel to estimate the unknown parameters a, b, c, and d.
Then, you will use these parameter estimates to analyze the regression results and provide advice, recommendations and useful information to firms producing this good.
The final report will have the following basic format.
1. Executive summary.
2. Introduction with goals and objectives.
3. Analytical and Empirical Frameworks.
4. Results and Discussion.
5. Conclusions and recommendations.
(Detailed explanations needed)
The data is attached there should be a minimum of 8 pages. More including screenshots from excel as exhibits backing the report. If possible we’d like the excel sheets of any calculations.