1.For the provided data, derive a demand function (equation) using the regression function in Excel. Please include the Excel output in your final product.
2.Test for the statistical significance of the estimated regression coefficients (i.e., interpret the meaning of the t Stats produced by the Excel regression function produced as part of the output of step no. 1).
3.Interpret the F statistic to test the validity of your overall equation. (This statistic is also part of the output of step no. 1).
4.Compute elasticities of demand for each of the variables for College 15. Briefly explain their implications.
5.What proportion of the variation in quantity sold is explained by the independent variables in the equation?
6.What other factors (variables) might be included in the equation? Do you foresee any difficulty in obtaining these additional data or incorporating them into the regression analysis?
7.Under what type of market structure would you imagine places selling pizza near colleges operate? Explain.
I really do not understand any of this.
Regression Analysis is outlined.