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Suppose the Kalamazoo Brewing Company (KBC) currently sells its microbrews in a seven-state area: Illinois, Indiana, Michigan, Minnesota, Mississippi, Ohio, and Wisconsin. The companys data analytics department has collected data from its distributors in each state. This data consists of the quantity and price (per case) of microbrews sold in each state, as well as the average income (in thousands of dollars) of consumers living in various regions of each state. The data for each state are available via the link below--please note there are multiple tabs at the bottom of the spreadsheet, each refers to one of the seven states selling the Kalamazoo Brewing Companys microbrews.

Excel Data File

Quantity	Price	Income
309	29.77	25.59
341	26.49	28.16
600	28.56	54.66
298	32.38	26.15
241	26.15	17.63
202	30.37	14.63
654	27.29	60.42
459	29.44	40.15
490	32.83	44.4
399	36.68	36.91
351	27.39	29.81
157	29.46	10.93
457	28.49	40.72
322	29.16	27.29
306	29.91	25.48
536	32.3	48.43
416	26.44	36.27
411	32.12	35.94
628	29.84	57.61
393	32.37	33.75
446	28.59	39.46
288	32.14	24.19
432	32.22	38.45
350	31.52	29.52
423	31.81	38.05
316	33.36	27.18
275	33.44	24.07
342	28.14	29
454	26.04	40.16
239	30.37	19.74
368	32.19	32.02
407	30.84	35.43
252	31.56	20.19
151	33.11	10.8
314	31.42	26.46
451	34.14	40.69
395	30.52	34.81
229	25.32	17.36
340	28.66	28.36
415	32.2	37.04
476	32.52	43.47
285	26.36	22.97
345	30.79	29.52
420	35.14	38.4
394	34.1	35.73
443	28.5	38.81
393	25.72	33.23
269	30.64	22.66
565	31.27	51.13
515	26.23	46.6

Assuming that the underlying demand relation is a linear function of price and income, use your spreadsheet program to obtain least squares estimates of Wisconsins demand for KBC microbrews.

Instruction: If the estimate is negative, enter a negative number () in the equation. Enter your responses rounded to two decimal places.

Q = [ ] + [ ] Price + [ ] Income

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