Total revenue for a soda in January 2011 was $4,342,262, and total revenue in January 2013 was $4,429,964. See the data below. The soda company is requesting your help as manager to understand how price increases are affecting the quantity of sodas sold. Create a table with the descriptive statistics of the number of sodas sold in the two years, as well as an explanation of the descriptive statistics: What are some of the key aspects of the descriptive statistics that help you tell a story about the 2 years in sodas sold. Run a regression where you explain how price changes are affecting the quantity of sodas sold. Include an explanation of the coefficients as well as an explanation of the t-statistics, the intercept, the R-Squared, and the F-Statistic. Explain managerial recommendations to the soda company on how can you increase the revenue.

Total revenue for a soda in January 2011 was $4,342,262, and total revenue in January 2013 was $4,429,964. See the data below. The soda company is requesting your help as manager to understand how price increases are affecting the quantity of sodas sold. Create a table with the descriptive statistics of the number of sodas sold in the two years, as well as an explanation of the descriptive statistics: What are some of the key aspects of the descriptive statistics that help you tell a story about the 2 years in sodas sold. Run a regression where you explain how price changes are affecting the quantity of sodas sold. Include an explanation of the coefficients as well as an explanation of the t-statistics, the intercept, the R-Squared, and the F-Statistic. Explain managerial recommendations to the soda company on how can you increase the revenue.

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

See similar textbooks

Similar questions

Find the Fan Cost Index for the New York Knicks. Team Ticket Other Drink Soft Drink Hot Dog Parking Hat FCI NY Knicks $190 $11.50 $8 $6 $30 $31
What is the difference between relative frequency and cumulative frequency? Choose the correct answer below. A. Relative frequency of a class is the number of observations in that class, while cumulative frequency of a class is the sum of all the frequencies. B. Relative frequency of a class is the proportion of the data in that class, while cumulative frequency of a class is the number of observations in that class. C. Relative frequency of a class is the percentage of the data that falls in that class, while cumulative frequency of a class is the sum of the frequencies of that class and all previous classes. O D. There is no difference between the two.
The Acme School of Locksmiths has been accredited for the past 15 years. Discuss how this information might be interpreted as a a. qualitative variable b. quantitative variable
Lily has been keeping track of what she spends on eating out. The last week’s expenditures for meals eaten out were $5.69, $5.95, $6.19, $10.91, $7.49, $14.53 and $7.66. The range is $8.84. TRUE OR FALSE
What percentage of data would you predict would be between 25 and 50 and what percentage would you predict would be more than 50 miles? Use the Week 4 spreadsheet again to find the percentage of the data set we expect to have values between 25 and 50 as well as for more than 50. Now determine the percentage of data points in the dataset that fall within each of these ranges, using same strategy as above for counting data points in the data set. How do each of these compare with your prediction and why is there a difference? Predicted percentage between 25 and 50: ________________________ Actual percentage: Predicted percentage more than 50 miles: Actual percentage: ___________________________________________ Comparison ____________________________________________________ Why? __________________________________________________________ Drive: 44 20 88 6 71 42 76 63 61 63 84 28 55 33 88 80 86 83 5 85 25 25 54 54 81 73 29 76 78…
Q5. Briefly explain four factors often used to subdivide life in mortality statistics.
A group of 20 young adults was asked about their political party affiliation (examples are Democrat, Republican, Libertarian, or Green Party), and the results can be downloaded from the data file Political Affiliation. In StatKey, which menu option would you select under "Descriptive Statistics and Graphs" to graph the data? One Quantitative Variable One Categorical Variable One Quantitative and One Categorical Variable
Pathway: Business Below is a chart displaying the income of Starbucks from 2003-2017. Use the chart to answer the questions below Starbucks Revenue in Billions 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Find the range, mean, median, and mode for the revenue. 4.1 5.3 6.4 7.8 9.4 10.4 9.8 10.7 11.7 13.3 14.9 16.45 19.16 21.32 22.39
The Big Mac index is a way of measuring Purchasing Power Parity (PPP) between different countries. By diverting the average national Big Mac prices to U.S. dollars, the same goods can be informally compared. The Big Mac can also be a good indicator for the individual purchasing power of an economy since he exists worldwide in standard size, composition and quality. Price # of Countries Rel. f. Cum. f 1.50-1.99 2 2.00-2.49 4 2.50-2.99 7 3.00-3.49 9 3.50-3.99 7 4.00-4.49 8 4.50-4.99 9 5.00-5.49 7 5.50-5.99 1 6.00-6.49 2 6.50-6.99 1
qdes.c A study was undertaken to see how accurate food labeling for calories on food that is considered "reduced calorie". The group measured the amount of calories for each item of food and then found the percent difference between measured and labeled food. The group also looked at food that was nationally advertised, regionally distributed, or locally prepared. The data is in the following table ("Calories datafile," 2013). Table: Percent Differences Between Measured and Labeled Food National Advertised Regionally Distributed Locally Prepared 2 41 15 -28 46 60 -6 2 250 8 25 145 6 39 6 -1 16.5 80 10 17 95 13 28 3 15 -3 -4 14 -4 34 -18 42 10 5 3 -7 3 -0.5 -10 6 Do the data indicate that at least two of the mean percent differences between the three groups are different?…
Could you please tell me if my work is correct? Forbes magazine published data on the best small firms in 2012. These were firms which had been publicly listed for at least a year, have a stock price of at least $5 per share, and have reported annual revenue between $5 million and $1 billion. The table shows the ages of the chief executive officers for the first 60 ranked firms. Age Frequency Relative Frequency Cumulative Relative Frequency 40–44 3 0.05 0.05 45–49 11 0.18 0.23 50–54 13 0.22 0.45 55–59 16 0.27 0.72 60–64 10 0.17 0.88 65–69 6 0.10 0.98 70–74 1 0.02 1.00 Total: 60 1 How I got the calculations: Age Frequency Relative Frequency Cumulative Relative Frequency 40–44 3 =F10/F17 =G10 45–49 11 =F11/F17 =H10+G11 50–54 13 =F12/F17 =H11+G12 55–59 16 =F13/F17 =H12+G13 60–64 10 =F14/F17 =H13+G14 65–69 6 =F15/F17…
Knowledge of statistical and mathematical terms is very important in finance. Explain the difference in the field of mathematics and the discipline of statistics.