Write a Quantitative Analysis report on the following
problems:
Given the demand equation Q =1,500 – 200P, calculate
all the numbers necessary to fill in the following table:
Elasticity
P
Q
Point
Arc
Total Revenue
Marginal Revenue
$7.00
$6.50
$6.00
$5.50
$5.00
$4.50
$4.00
$3.50
$3.00
$2.50
Forecasting – The sales data for the Lonestar Sports
Apparel Company for the last 12 years are as follow:
Sales
2001
2002
2003
2004
2005
2006
$400,000
$440,000
$480,000
$518,000
$554,000
$587,000
Sales
2007
2008
2009
2010
2011
2012
$617,000
$654,000
$700,000
$756,000
$824,000
$906,000
What is the 2001 – 2012 compound growth rate?
Using the result obtained in part a, what is your 2013
projection?
If you were to make your own projection, what would you
forecast?
Demand Estimation
One of the most difficult tasks in
regression analysis is to obtain the data suitable for quantitative studies of
this kind. Suppose you are trying to estimate the demand for home furniture.
Suggest the kinds of variables that could be used to represent the following
factors, which are believed to affect the demand for any product. Be as
specific as possible about how the variables are going to be measured. Do you
anticipate any difficulty in securing such data? Explain.
Sales
Determinants of Demand for Furniture
Suggested Variables to Use in Regression Analysis
Price
Tastes and preferences
Price of related products
Income
Cost or availability of credit
Number of buyers
Future expectations
Other possible factors
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