Checkers Pizza Assignment

Questions 2 through 7 need to be answered and put in the attached excel file and sent back. All answers need to be on the excel file.

This excel file contains the regression for this assignment in the first worksheet. The second worksheet contains the data which was used for the analysis and may be needed for Questions 2 - 7.  

At the bottom of the second worksheet is a sample similar to what is being asked in Questions 2-7, but not exactly. Perhaps it will be helpful in answering the questions.

The questions 2 - 7 are below:

2. Calculate the following for Checker's Pizza: Own price elasticity, income elasticity, and cross price elasticity for both Als Pizza and Big Macs. Evaluate each at the mean values of the data. Show how you calculated the elasticities, and report your values for each of the elasticities calculated. You may obtain the mean values with Excel as follows: • Open the Checker's Pizza Data file. • Click on Data in the tool bar and then Data Analysis. • Click on Descriptive Statistics. Select input range and highlight your data. It is best to include your labels in the array. Click the labels box, if you did include the labels. Also click the summary statistics box. • Click OK. Save the output file,  and put in the excel sheet.

Using the output you generated and the elasticities you calculated in part 2, complete the following questions.

3. If Checker's Pizza lowers its price by 15%, what will be the impact on pizzas sold?

4. Checker's management has seen a report indicating that consumer income will increase by 8% next year. What would be the percentage change in pizzas sold?

5. Which is a better substitute for Checker's Pizza, Als Pizza or Big Macs? Explain your answer.

6. If expectations for next year are that P, M INCOME, PAL, and PBMAC are all going to increase by 5%, by what percent would the demand for Checker's Pizza change? Use the elasticities you calculated in question 2 for question 6.

7. If the independent variables (P, M INCOME, PAL, and PBMAC) take on the values below, how many pizzas could Checker's expect to sell?

P = $11.50 M INCOME = $35,000 PAL = $10.00 PBMAC = $3.00

• 1499833679-CheckersOutputfile1.xlsx

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Status NEW Posted 12 Jul 2017 04:07 AM My Price 10.00

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