ECO 550 WEEK 2 DISCUSSIONS.........................
(note: I did two answers for each question)
1) "Estimating Demand" Please respond to the following:
•* From the scenario, examine the procedure Herb will use to estimate the demand model developed in the scenario for Week 1. Determine the meaning, relevance, and importance of a manager interpreting the regression results.
•From the e-Activity, analyze the elasticity of demand for products within the selected industry. Determine the factors involved in making decisions about pricing these products that you believe to be the most influential. Provide a rationale for your response