Managerial Economics Essay

The major technique that we used in order to extract the data given is by using SPSS program which is by linear regression analysis. Regression analysis  includes any techniques for modeling and analyzing several variables, when the focus is on the relationship between a  dependent variable  and one or more independent variables. More specifically, regression analysis helps one understand how the typical value of the dependent variable changes when any one of the independent variables is varied, while the other independent variables are held fixed. Most commonly, regression analysis estimates the  conditional expectation  of the dependent variable given the independent variables that is, the  average value  of the dependent variable when the independent variables are held fixed. In all cases, the estimation target is a  function  of the independent variables called the  regression function. In regression analysis, it is also of interest to characterize the variation of the dependent variable around the regression function, which can be described by a  probability distribution. Regression analysis is also used to understand which among the independent variables are related to the dependent variable, and to explore the forms of these relationships. In restricted circumstances, regression analysis can be used to infer  causal relationships  between the independent and dependent variables. By using SPSS program, we can identify and analyze the regression result. From there, we can also found the related concept of elasticity being formed. The concept of elasticity is introduced as the tools for measuring the responsiveness of quantity demanded to changes in various factors. The first major section is considered regresiion analysis which is a statistical method for fitting the equation to set the data. It is used for demand estimation and we can analyse the result by using regression analysis. Finally, by using SPSS program, it is easier to identify and analyze the price ticket and the demand which have been effect from various sector.