Question #41110

Based on 21 months of past data, Ziggy’s Drive-In has determined that the demand for its hamburgers is given by the following equation:
Q = 205.2 - 200P + 100PC + 0.5Y + 23.0A
(110.9) (35.65) (49.5) (0.117) (8.712) (standard errors)
R2 = 0.74 SEE = 18.9
where Q = number of hamburgers sold per month, in thousands
P = price of Ziggy’s hamburgers, in dollars
PC = price of hamburgers for Ziggy’s major competitor, in dollars
Y = income per capita in the surrounding community, thousands of dollars
A = advertising expenditures during the previous month, thousands of dollars
Currently, Ziggy charges $1.00 for its hamburgers,

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Dear visitor

Unfortunately, the statement of your question is a bit confusing.

What do you need to be done? Please, give us the details so we could help you. We do not know sufficient information to solve this problem

Unfortunately, the statement of your question is a bit confusing.

What do you need to be done? Please, give us the details so we could help you. We do not know sufficient information to solve this problem

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