n excel Price      Demand 2000       4500 2800      3600 3500      1850 4000    1200 5000    820 Based on the data above estimate the demand function. When you estimate demand curve, please compare the following options and choose the one with highest R square  Exponential Linear Power

Macroeconomics
13th Edition
ISBN:9781337617390
Author:Roger A. Arnold
Publisher:Roger A. Arnold
ChapterA: Working With Diagrams
Section: Chapter Questions
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in excel

Price      Demand

2000       4500

2800      3600

3500      1850

4000    1200

5000    820

Based on the data above estimate the demand function. When you estimate demand curve, please compare the following options and choose the one with highest R square 

  1. Exponential
  2. Linear
  3. Power 
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