Pizza Company

In: Business and Management

Submitted By rashandamarie
Words 473
Pages 2
The Pizza Company is considering entering the marketplace in your community. Use the information from “The Pizza Company Data” worksheet, located in Week 3 of your course shell, to complete this assignment. By conducting a demand analysis and forecast for pizza, you will be able to make a decision whether The Pizza Company should establish a presence in your community.

Write a three to five (3-5) page paper in which you:

1. Use Excel or other calculation software to input the data to calculate an estimated regression. Then, from the calculation provided, interpret the coefficient of determination, indicating how it will influence your decision to open the pizza business in your town or community. Explain any additional variables that may improve the coefficient of determination.
R2 = 0.832980642 meaning that 83% of the variability observed in pizza demands can be explained by price, competitor price, income, and advertising. In other words, the R2 is a nice fit but can also have improvement. This output is telling you that demand is predicted to increase 8.78 when the income goes up by one, increase by 15467 when competitor goes up by one, and increases by .26 when advertising goes up by one.

2. Test the statistical significance of the independent variables and the regression equation, indicating how it will impact your decision to open the pizza shop.
By using the P-value to test the significance of the independent variables, you will notice that 2 of your independent variables are significance on the .05 level. (price and competitor price). This is because they P-value are lower than .05. (price = .0000554, competitor price = .000146656). Advertising is significant on the .10 level ( = .010)

3. Forecast the demand for pizza for the next four (4) periods using the regression equation.
4. Based on the forecasted demand, determine whether The…...

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