demand and forecasting economics

Dominos Pizza is considering entering the marketplace in your community (Boston, MA).  Conduct research about the demographics of your community, for example the population size and average income per household and other independent variables such as price of pizza and soda.  By conducting a demand analysis and forecast in pizza, you will be able to make a decision whether Dominos should establish a presence in your community.

1. report the demographic and independent variables that are relevant to complete a demand analysis providing a rationale for the selection of variables. (you will have to use U.S. government demographic statistic websites to gather data, and cite them).

2. using excel, input the data you collected in criterion one 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.  Explain any additional variables (location) that may improve the coeeficeint of determination.

3. Test the statistical significance of the variables and the regression equation indicating how it will impact your decision to open the pizza business.

4. Forecast the demand for pizza in this community for the next 4 (four) months using the regression equation, including the assumptions that were used to create the demand.  Justify the assumptions made related to your forecast. show the calculations.

5. Based on your forecasting demand, determine whether Dominos pizza should establish a restaurant in your community. Provide a rationale and support the decision.

6. Cite at least 2 different government sources for demographic information you collected.

 

THIS MUST BE DONE BY 4/25/2013 5:00 PM EST

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