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Question: consider the following three market price data a enter the...

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Consider the following three market price data.

(a) Enter the following sales data using Excel.

sales = x1 sales = x2 sales = x3 Price A ($)
10 10 10 100
10 10 13 99
10 10 15 98
12 10 10 98
12 12 10 97
12 14 10 95
14 10 10 94

(b) Use LINEST to find a linear price function for the above data for three markets. (Note: You will be using the format (Price = b + m1*x1 + m2*x2 + m3*x3) where Price = P(x1, x2, x3) and the values for b, m1, m2, and m3 are all numerical values. Enter all values correct to 2 decimal places.)
P(x1, x2, x3) =  +  *x1 +  *x2 +  *x3


(c) Use the values for b and the three slopes to predict the price when the sales are x1 = 15, x2 = 20, and x3 = 15.
P(15, 20, 15) = $  

(d) Repeat (a) - (c) when one additional price data is used where x1 = 14, x2 = 12, x3 = 12 and Price A = $89. (Note: Add this new information into your spreadsheet by adding an extra row at the bottom.)

New linear price function
P(x1, x2, x3) =  +  *x1 +  *x2 +  *x3

New price prediction
P(15, 20, 15) = $

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