Question: Suppose Kalamazoo Brewing Company (KBC) currently sells its microbrews in a seven state area: Illinois, Indiana, Michigan, Minnesota, Mississippi, Ohio, and Wisconsin. The company’s marketing department has collected data from its distributors in each state. These data consist of the quantity and price (per case) of microbrews sold in each state, as well as the average income (in thousands of dollars) of consumers living in various regions of each state. Assuming that the underlying demand relation is a linear function of price and income, use your spreadsheet program to obtain least squares estimates of the state’s demand for KBC microbrews. Print the regression output and provide and provide an economic interpretation of the regression results for each state. (I have attached the data for each state).

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Solution: The downloadable solution consists of 8 pages
Deliverable: Word Document