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Soft Drinks Output

In: Business and Management

Submitted By thayahunnyy
Words 1679
Pages 7
ECO 740 SOFT DRINK DEMAND ESTIMATION

Prepared by:
Bajuriah binti Yunus
Salmiwati binti Mohamad Jamili
Suraya Hani binti Su’id
Zerafinas binti Abu Hassan

Prepared for :
Prof. Dr. Saadiah Mohamad

In economics demand can be defined the relationship between the prices of a commodity and the quantity of the commodity which the consumer wants to buy at certain price. It is essentially the attitude and reaction of a consumer towards the commodity they want to purchase. Demand forecasting involves techniques including both informal methods and quantitative methods, such as the use of historical sales data. As an example, soft drink consumption in cans per capita across 48 contiguous in the United States can be defined using multiple regression analysis. It used to be multiple regressions due to involving several independent variables which is six-pack price, income per capita and mean temperature.
Table 1
Soft Drink Demand Data Cans/Capita/Yr 6-Pack $ Price Income $/ Capita Mean Temp
Alabama 200 2.19 13 66
Arizona 150 1.99 17 62
Arkansas 237 1.93 11 63
California 135 2.59 25 56
Colorado 121 2.29 19 52
Connecticut 118 2.49 27 50
Delaware 217 1.99 28 52
Florida 242 2.29 18 72
Georgia 295 1.89 14 64
Idaho 85 2.39 16 46
Illinois 114 2.35 24 52
Indiana 184 2.19 20 52
Iowa 104 2.21 16 50
Kansas 143 2.17 17 56
Kentcuky 230 2.05 13 56
Lousiana 269 1.97 15 69
Maine 111 2.19 16 41
Maryland 217 2.11 21 54
Massachussets 114 2.29 22 47
Michigan 108 2.25 21 47
Minnesota 108 2.31 18 41
Mississpi 248 1.98 10 65
Missouri 203 1.94 19 57
Montana 77 2.31 19 44
Nebraska 97 2.28 16 49
Nevada 166 2.19 24 48
New Hampshire 177 2.27 18 35
New Jersery 143 2.31 24 54
New Mexico 157 2.17 15 45
New York 111 2.43 25 48
North California 330 1.89 13 59
North Dakota 63 2.33 14 39
Ohio 165...

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