Can you solve this assignment using Excel?
Marketing Engineering
Assignment 3
Assessing the impact of price in case of 3 brands.
⚫ V_1=0 (reference)
⚫ V_2= beta_20+beta_21*price_brand1+beta_22*price_brand2+beta_23*price_brand3
⚫ V_3= beta_30+beta_31*price_brand1+beta_32*price_brand2+beta_33*price_brand3
Q1. Find the market share of three brands when price_brand1=4.1, price_brand2=3.5,
price_brand3=3.8 (only consider significant parameters (Pr > Chi2) at alpha=10%)
Q2. If the cost of goods sold is 3 units for brand2, what would be its optimal price to maximize its
profit? Explain why?
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