SUMMARY OUTPUT

Regression Statistics
Multiple R 0.999122
R Square 0.998245
Adjusted R 0.998171
Standard E 4.793061
Observatio
50
ANOVA
df
Regressio
Residual
Total

Intercept
P
Y

SS
MS
2 614277.4 307138.7
47 1079.751 22.97344
49 615357.1

Coefficients
Standard Error t Stat
107.6022 7.974954 13.49251
-1.93513 0.254978
-7.5894
10.00717 0.061215 163.4763

Wisconsin
Regress Q on P and M

F Significance F
13369.3 1.7E-065

P-value Lower 95%Upper 95%

SUMMARY OUTPUT
Regression Statistics
Multiple R 0.998063
R Square
0.99613
Adjusted R 0.995966
Standard E 0.020174
Observatio
50
ANOVA
df
Regressio
Residual
Total

Intercept
lnP
lnY

SS
MS
F Significance F
2 4.924119 2.46206 6049.336 2.0E-057
47 0.019129 0.000407
49 4.943248

Coefficients
Standard Error t Stat
3.606904 0.111803 32.26137
-0.17424 0.032234
-5.4054
0.838539 0.007624 109.9932

P-value Lower 95%Upper 95%

Wisconsin
Wisconsin
Cases of beer sold per week Price of beer per case
Q
P
309
29.77
341
26.49
600
28.56
298
32.38
241
26.15
202
30.37
654
27.29
459
29.44
490
32.83
399
36.68
351
27.39
157
29.46
457
28.49
322
29.16
306
29.91
536
32.30
416
26.44
411
32.12
628
29.84
393
32.37
446
28.59
288
32.14
432
32.22
350
31.52
423
31.81
316
33.36
275
33.44
342
28.14
454
26.04
239
30.37
368
32.19
407
30.84
252
31.56
151
33.11
314
31.42
451
34.14
395
30.52
229
25.32
340
28.66
415
32.20
476
32.52
285
26.36
345
30.79
420
35.14
394
34.10
443
28.50
393
25.72
269
30.64
565
31.27
515
26.23

Quantity of Beer

Beer

700
600
500
400
300
200
100
0
25.00

27.00

Price of Beer
29.00

Wisconsin
Average Income of residents ($Thousands)
Y
25.59
28.16
54.66
26.15
17.63
14.63
60.42
40.15
44.40
36.91
29.81
10.93
40.72
27.29
25.48
48.43
36.27
35.94
57.61
33.75
39.46
24.19
38.45
29.52
38.05
27.18
24.07
29.00
40.16
19.74
32.02
35.43
20.19
10.80
26.46
40.69
34.81
17.36
28.36
37.04
43.47
22.97
29.52
38.40
35.73
38.81
33.23
22.66
51.13
46.60

Ohio
Cases of beer sold per week
Q
286
75
351
313
368
316
203
205
321
233
261
148
301
270
267
136
394
259
271
264
344
381
399
134
158
299
205
347
226
249
231
306
363
292
379
419
305
92
273
193
333
191
164
257
311
408
281
310
308
285

Quantity of Beer

27.00

Beer versus Price

Price of Beer
29.00

31.00

33.00

35.00

Ohio
Ohio
Price of beer per case
Average Income of residents ($Thousands)
P
Y
28.09
36.08
27.68
5.17
28.48
43.92
30.24
37.28
28.40
47.62
26.83
37.65
28.18
23.22
30.91
22.62
30.87
41.12
31.56
28.30
31.51
32.30
30.18
17.17
31.95
37.68
30.31
34.39
27.16
31.65
30.25
15.71
31.03
51.04
30.19
31.05
30.82
32.53
32.69
35.04
28.53
43.82
29.00
48.94
30.36
51.63
29.34
14.30
28.05
14.67
25.08
35.00
25.15
24.15
28.60
44.22
32.75
27.24
29.01
29.41
30.53
28.61
28.46
36.06
30.64
46.77
33.88
37.25
29.34
49.01
29.76
52.13
31.41
33.75
29.76
8.70
29.70
31.09
26.37
22.47
32.81
44.68
28.22
21.00
29.38
18.98
27.25
27.92
30.57
36.99
30.07
54.36
28.30
36.64
28.29
38.53
33.85
43.30
29.69
35.18

Wisconsin Wisconsin
lnQ
lnP
5.73
3.39
5.83
3.28
6.40
3.35
5.70
3.48
5.48
3.26
5.31
3.41
6.48
3.31
6.13
3.38
6.19
3.49
5.99
3.60
5.86
3.31
5.06
3.38
6.12
3.35
5.77
3.37
5.72
3.40
6.28
3.48
6.03
3.27
6.02
3.47
6.44
3.40
5.97
3.48
6.10
3.35
5.66
3.47
6.07
3.47
5.86
3.45
6.05
3.46
5.76
3.51
5.62
3.51
5.83
3.34
6.12
3.26
5.48
3.41
5.91
3.47
6.01
3.43
5.53
3.45
5.02
3.50
5.75
3.45
6.11
3.53
5.98
3.42
5.43
3.23
5.83
3.36
6.03
3.47
6.17
3.48
5.65
3.27
5.84
3.43
6.04
3.56
5.98
3.53
6.09
3.35
5.97
3.25
5.59
3.42
6.34
3.44
6.24
3.27

700
600

Be

Quantity

rice

700

Be

Quantity

600
500
400
300
200
100

33.00

35.00

37.00

39.00

0
-

10.00

20.0

Wisconsin
lnY
3.24
3.34
4.00
3.26
2.87
2.68
4.10
3.69
3.79
3.61
3.39
2.39
3.71
3.31
3.24
3.88
3.59
3.58
4.05
3.52
3.68
3.19
3.65
3.39
3.64
3.30
3.18
3.37
3.69
2.98
3.47
3.57
3.01
2.38
3.28
3.71
3.55
2.85
3.34
3.61
3.77
3.13
3.39
3.65
3.58
3.66
3.50
3.12
3.93
3.84

700
600

Ohio

Ohio
lnQ
5.66
4.32
5.86
5.75
5.91
5.76
5.31
5.32
5.77
5.45
5.56
5.00
5.71
5.60
5.59
4.91
5.98
5.56
5.60
5.58
5.84
5.94
5.99
4.90
5.06
5.70
5.32
5.85
5.42
5.52
5.44
5.72
5.89
5.68
5.94
6.04
5.72
4.52
5.61
5.26
5.81
5.25
5.10
5.55
5.74
6.01
5.64
5.74
5.73
5.65

Ohio
lnP
3.34
3.32
3.35
3.41
3.35
3.29
3.34
3.43
3.43
3.45
3.45
3.41
3.46
3.41
3.30
3.41
3.43
3.41
3.43
3.49
3.35
3.37
3.41
3.38
3.33
3.22
3.22
3.35
3.49
3.37
3.42
3.35
3.42
3.52
3.38
3.39
3.45
3.39
3.39
3.27
3.49
3.34
3.38
3.31
3.42
3.40
3.34
3.34
3.52
3.39

lnY
3.59
1.64
3.78
3.62
3.86
3.63
3.15
3.12
3.72
3.34
3.48
2.84
3.63
3.54
3.45
2.75
3.93
3.44
3.48
3.56
3.78
3.89
3.94
2.66
2.69
3.56
3.18
3.79
3.30
3.38
3.35
3.59
3.85
3.62
3.89
3.95
3.52
2.16
3.44
3.11
3.80
3.04
2.94
3.33
3.61
4.00
3.60
3.65
3.77
3.56

Beer versus Income

Quantity of Beer

700

Beer versus Income

Quantity of Beer

600
500
400
300
200
100
0
-

10.00

20.00

30.00
40.00
Income

50.00

60.00

70.00

Wisconsin
Wisconsin
Cases of beer sold per week Price of beer per case
Q
P
309
29.77
341
26.49
600
28.56
298
32.38
241
26.15
202
30.37
654
27.29
459
29.44
490
32.83
399
36.68
351
27.39
157
29.46
457
28.49
322
29.16
306
29.91
536
32.30
416
26.44
411
32.12
628
29.84
393
32.37
446
28.59
288
32.14
432
32.22
350
31.52
423
31.81
316
33.36
275
33.44
342
28.14
454
26.04
239
30.37
368
32.19
407
30.84
252
31.56
151
33.11
314
31.42
451
34.14
395
30.52
229
25.32
340
28.66
415
32.20
476
32.52
285
26.36
345
30.79
420
35.14
394
34.10
443
28.50
393
25.72
269
30.64
565
31.27

515

26.23

Linear Model
dQ/dP
-1.93513
dQ/dY
10.00717
Average E(Q,P)
(0.171)
Average E(Q,Y)
0.858
Wisconsin
Average Income of residents ($Thousands)
Y
25.59
28.16
54.66
26.15
17.63
14.63
60.42
40.15
44.40
36.91
29.81
10.93
40.72
27.29
25.48
48.43
36.27
35.94
57.61
33.75
39.46
24.19
38.45
29.52
38.05
27.18
24.07
29.00
40.16
19.74
32.02
35.43
20.19
10.80
26.46
40.69
34.81
17.36
28.36
37.04
43.47
22.97
29.52
38.40
35.73
38.81
33.23
22.66
51.13

E(Q,P)
E(Q,Y)
(0.19)
0.83
(0.15)
0.83
(0.09)
0.91
(0.21)
0.88
(0.21)
0.73
(0.29)
0.72
(0.08)
0.92
(0.12)
0.88
(0.13)
0.91
(0.18)
0.93
(0.15)
0.85
(0.36)
0.70
(0.12)
0.89
(0.18)
0.85
(0.19)
0.83
(0.12)
0.90
(0.12)
0.87
(0.15)
0.88
(0.09)
0.92
(0.16)
0.86
(0.12)
0.89
(0.22)
0.84
(0.14)
0.89
(0.17)
0.84
(0.15)
0.90
(0.20)
0.86
(0.24)
0.88
(0.16)
0.85
(0.11)
0.89
(0.25)
0.83
(0.17)
0.87
(0.15)
0.87
(0.24)
0.80
(0.42)
0.72
(0.19)
0.84
(0.15)
0.90
(0.15)
0.88
(0.21)
0.76
(0.16)
0.83
(0.15)
0.89
(0.13)
0.91
(0.18)
0.81
(0.17)
0.86
(0.16)
0.91
(0.17)
0.91
(0.12)
0.88
(0.13)
0.85
(0.22)
0.84
(0.11)
0.91

NonLinear
Model
(0.174)
0.839

46.60

(0.10)

0.91

Ohio
Ohio
Ohio
Cases of beer sold per wee Price of beer per case Average Income of residents ($Thousands)
Q
P
Y
286
28.09
36.08
75
27.68
5.17
351
28.48
43.92
313
30.24
37.28
368
28.40
47.62
316
26.83
37.65
203
28.18
23.22
205
30.91
22.62
321
30.87
41.12
233
31.56
28.30
261
31.51
32.30
148
30.18
17.17
301
31.95
37.68
270
30.31
34.39
267
27.16
31.65
136
30.25
15.71
394
31.03
51.04
259
30.19
31.05
271
30.82
32.53
264
32.69
35.04
344
28.53
43.82
381
29.00
48.94
399
30.36
51.63
134
29.34
14.30
158
28.05
14.67
299
25.08
35.00
205
25.15
24.15
347
28.60
44.22
226
32.75
27.24
249
29.01
29.41
231
30.53
28.61
306
28.46
36.06
363
30.64
46.77
292
33.88
37.25
379
29.34
49.01
419
29.76
52.13
305
31.41
33.75
92
29.76
8.70
273
29.70
31.09
193
26.37
22.47
333
32.81
44.68
191
28.22
21.00
164
29.38
18.98
257
27.25
27.92
311
30.57
36.99
408
30.07
54.36
281
28.30
36.64
310
28.29
38.53

308
285

33.85
29.69

43.30
35.18

Linear Model
Non-Linear Model
dQ/dP
-2.47673877
dQ/dY
7.03152961
Average E(Q,P)
(0.01) -0.2662684641
Average E(Q,Y)
0.03
0.7944709308
(0.01)

0.03

($Thousands)
E(Q,P)
E(Q,Y)
(0.01)
0.0245857679
(0.03)
0.0937537282
(0.01)
0.0200328479
(0.01)
0.0224649508
(0.01)
0.0191074174
(0.01)
0.022251676
(0.01)
0.0346380769
(0.01)
0.0343001445
(0.01)
0.0219050767
(0.01)
0.0301782387
(0.01)
0.0269407265
(0.02)
0.0475103352
(0.01)
0.0233605635
(0.01)
0.0260427023
(0.01)
0.0263353169
(0.02)
0.0517024236
(0.01)
0.0178465219
(0.01)
0.027148763
(0.01)
0.0259466037
(0.01)
0.0266345819
(0.01)
0.0204404931
(0.01)
0.0184554583
(0.01)
0.0176228812
(0.02)
0.0524741016
(0.02)
0.044503352
(0.01)
0.0235168215
(0.01)
0.0343001445
(0.01)
0.0202637741
(0.01)
0.0311129629
(0.01)
0.0282390748
(0.01)
0.0304395221
(0.01)
0.0229788549
(0.01)
0.019370605
(0.01)
0.0240805809
(0.01)
0.0185528486
(0.01)
0.0167816936
(0.01)
0.0230541955
(0.03)
0.0764296697
(0.01)
0.0257565187
(0.01)
0.0364327959
(0.01)
0.0211157045
(0.01)
0.0368142912
(0.02)
0.0428751806
(0.01)
0.0273600374
(0.01)
0.02260942
(0.01)
0.0172341412
(0.01)
0.0250232371
(0.01)
0.0226823536

(0.01)
(0.01)

0.0228296416
0.0246720337

Linear Regression
Regression Statistics
R
R Square
Adjusted R Square
S
Total number of observation

0.99191
0.98389
0.9832
10.62538
50
Q = 111.0588 - 2.4767 * P + 7.0315 * Y

ANOVA
d.f.
Regression
Residual
Total

Intercept
P
Y

SS
2
47
49

###
5,306.23841
329,294.5

Coefficients Standard Error

Regress Q on Price & Income

MS
161,994.13079
112.89869

LCL
55.57118
-4.38682
6.71178

F
###

p-level
###

UCL
166.54648
-0.56665
7.35128

t Stat
4.82032
-3.12281
52.96051

p-level
0.00002
0.00306
###

H0 (2%) rejected?
Yes
Yes
Yes

Linear Regression
Regression Statistics
R
R Square
Adjusted R Square
S
Total number of observation

0.99088
0.98183
0.98106
0.05063
50
lnQ = 3.7320 - 0.2663 * lnP + 0.7945 * lnY

ANOVA
d.f.
Regression
Residual
Total

Intercept
lnP
lnY

SS
6.51112
0.12047
6.63159

MS
3.25556
0.00256

Coefficients Standard Error

LCL
2.84291
-0.53403
0.75601

2
47
49

F
###

p-level
###

UCL
4.62118
0.00149
0.83293

t Stat
###
-2.3949
###

p-level

H0 (2%) rejected?
### Yes
0.02066 No
### Yes