Elasticity, Economics Expert

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_ElasticityExercise.xlsx
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Data

Ice cream sales data
Day Sales per hour Price Avg Temp
1 16.72 0.75 82
2 18.54 0.75 81
3 13.45 0.75 70
4 15.35 0.75 65
5 13.59 0.75 78
6 15.21 0.75 76
7 18.47 0.75 87
8 10.70 1.50 70
9 14.79 1.50 83
10 14.66 1.50 77
11 9.72 1.50 68
12 12.04 1.50 71
13 11.75 1.50 70
14 14.62 1.50 78
15 15.31 1.25 74
16 11.02 1.25 68
17 13.45 1.25 70
18 15.03 1.25 70
19 15.79 1.25 72
20 17.00 1.25 73
21 13.24 1.25 74
22 14.30 2.00 80
23 10.06 2.00 67
24 9.82 2.00 69
25 13.37 2.00 86
26 14.48 2.00 84
27 7.25 2.00 65
28 13.26 2.00 86
29 13.55 1.00 86
30 15.03 1.00 90
31 14.12 1.00 71
32 18.89 1.00 91
33 15.77 1.00 76
34 15.34 1.00 73
35 16.22 1.00 85
36 16.40 2.25 88
37 11.27 2.25 77
38 13.14 2.25 79
39 13.30 2.25 85
40 11.29 2.25 77
41 12.22 2.25 78
42 12.45 2.25 73
43 17.82 0.50 84
44 18.58 0.50 86
45 20.35 0.50 89
46 17.73 0.50 88
47 16.08 0.50 90
48 15.72 0.50 83
49 15.93 0.50 85
50 15.41 1.75 65
51 11.59 1.75 65
52 10.99 1.75 74
53 12.66 1.75 75
54 11.39 1.75 81
55 14.55 1.75 93
56 13.97 1.75 83
57 12.43 1.35 72
58 14.24 1.35 93
59 13.08 1.35 72
60 12.14 1.35 67
61 15.35 1.35 84
62 12.10 1.35 65
63 14.57 1.35 80
64 12.98 1.65 75
65 11.56 1.65 77
66 12.05 1.65 72
67 14.15 1.65 86
68 13.31 1.65 67
69 13.90 1.65 91
70 14.31 1.65 79