Question

Please finish the following question in Excel.

On top of the its own price effect on sales, Mr. Wok is also interested how the sales will change as Competitor’s price changes.

Please use data in “Linear regressions with competitor price

1. Estimate the coefficients with Mr. Work’s own price and its competitor
2. How do the two prices affect the Mr. Works’s sales?

3. Market ID	Sales	Price	Competitor Price (Cprice)
   1	228	2.2	2.2
   2	216	2.7	2.9
   3	223	2.4	2.4
   4	207	2.9	2.6
   5	216	2.8	2.4
   6	247	2.2	2.5
   7	233	2.0	2.2
   8	249	2.3	2.7
   9	239	2.1	2.4
   10	209	2.7	2.4
   11	214	2.8	2.4
   12	236	2.6	3.0
   13	218	2.6	2.1
   14	191	2.9	2.2
   15	223	2.6	3.0

Answer 1