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Elasticity Data

This document summarizes the results of a regression analysis with 12 observations. It found a strong multiple correlation (R=0.98) between the dependent variable Qd and independent variables Px, M, and PR. The regression equation developed was: Qd = 294.60 - 8.55Px - 0.39M - 128.19PR Forecasts using this equation found that with Px=2, M=5, and PR=1, the predicted value of Qd would be 147. Elasticities were also calculated from the logarithmic transformation of the data and variables.

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Khairul Bashar Bhuiyan 1635167090
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47 views5 pages

Elasticity Data

This document summarizes the results of a regression analysis with 12 observations. It found a strong multiple correlation (R=0.98) between the dependent variable Qd and independent variables Px, M, and PR. The regression equation developed was: Qd = 294.60 - 8.55Px - 0.39M - 128.19PR Forecasts using this equation found that with Px=2, M=5, and PR=1, the predicted value of Qd would be 147. Elasticities were also calculated from the logarithmic transformation of the data and variables.

Uploaded by

Khairul Bashar Bhuiyan 1635167090
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as XLS, PDF, TXT or read online on Scribd
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SUMMARY OUTPUT

Regression Statistics
Multiple R 0.9876566455
R Square 0.9754656494
Adjusted R Square 0.9662652679
Standard Error 3.3111611143
Observations 12

ANOVA
df SS MS F Significance F
Regression 3 3487.2896966 1162.43 106.0245 8.829E-07
Residual 8 87.7103034005 10.96379
Total 11 3575

Coefficients Standard Error t Stat P-value Lower 95%Upper 95%Lower 95.0%


Intercept 294.60444309 90.0585411821 3.271255 0.011335 86.92907 502.2798 86.92907
PX -8.551333741 8.73138361802 -0.979379 0.356077 -28.68594 11.58327 -28.68594
M -0.394217064 3.31756015007 -0.118827 0.908342 -8.044524 7.25609 -8.044524
PR -128.194665 25.316100721 -5.06376 0.000973 -186.5737 -69.81563 -186.5737

Qd = a+bP+cM+dPr
294.60 -8.55Px-0.39M-128.19PR

Forecast
Px = 2
M= 5
PR =1
Qd=294.60-8.55*2-0.39*5-128.19*1
Qd 147

Ed -0.1163265306 normal slope*P/Q


Em -0.0132653061 inferior Slope*M/Q
EXR -0.8720408163 complemenslope*PR/Q
Upper 95.0%
502.2798
11.58327
7.25609
-69.81563
SUMMARY OUTPUT

Regression Statistics
Multiple R 0.9798102276
R Square 0.9600280821
Adjusted R 0.9450386128
Standard E 0.0565486361
Observatio 12

ANOVA
df SS MS F Significance F
Regression 3 0.61441697467 0.204806 64.04684 6.181E-06
Residual 8 0.02558198593 0.003198
Total 11 0.6399989606

Coefficients Standard Error t Stat P-value Lower 95%Upper 95%Lower 95.0%Upper 95.0%
Intercept 7.070565401 2.63320092552 2.68516 0.027704 0.998393 13.14274 0.998393 13.14274
LNPX -0.3255732984 0.2080553558 -1.56484 0.156251 -0.80535 0.154203 -0.80535 0.154203
LNM -0.5127250629 0.87078567408 -0.588807 0.572236 -2.52076 1.49531 -2.52076 1.49531
LNPR -2.9579519067 0.73198870646 -4.04098 0.003731 -4.645921 -1.269983 -4.645921 -1.269983

ED -0.33
EM -0.51
EXR -2.95

WHEN THE DATA ARE TAKEN IN LN FORM THEN ALL THE VARIABLES APPEAR IN % FORM
SLOPES BECOME ELASTICITY
Upper 95.0%
CITY QX PX I Py LNQX LNPX LNM LNPR
1 50 1.5 12 1.8 3.912023 0.405465 2.484907 0.587787
2 80 1.35 14 1.55 4.382027 0.300105 2.639057 0.438255
3 95 1.25 15 1.45 4.553877 0.223144 2.70805 0.371564
4 105 1.2 16 1.35 4.65396 0.182322 2.772589 0.300105
5 70 1.3 13 1.6 4.248495 0.262364 2.564949 0.470004
6 85 1.5 14 1.5 4.442651 0.405465 2.639057 0.405465
7 55 1.45 13 1.7 4.007333 0.371564 2.564949 0.530628
8 60 1.35 13 1.7 4.094345 0.300105 2.564949 0.530628
9 75 1.25 13.7 1.6 4.317488 0.223144 2.617396 0.470004
10 90 1.2 14 1.5 4.49981 0.182322 2.639057 0.405465
11 100 1.45 15.2 1.35 4.60517 0.371564 2.721295 0.300105
12 65 1.1 13.6 1.65 4.174387 0.09531 2.61007 0.500775

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