Determine the equation for the demand-price relationship, given the time series data below .
economics
Description
Q 1. Given the data below, find:
Find the demand equation and R2.
Find the trend equation and R2
TIME QUANTITY DEMANDED AVERAGE PRICE
2000 17 11.5
2001 20 9.5
2002 26 6.0
2003 33 4
2004 41 2
2005 57 3
2006 65 3.2
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Q.2 Determine the equation for the demand-price relationship, given the time series data below .
TIME QUANTITY DEMANDED AVERAGE PRICE
2010 7 11.5
2011 10 9.5
2012 16 6
2013 23 4
2014 31 2
2015 47 3
2016 55 3.2
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Instruction Files
Q1.docx
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