Introduction:

This sample data file contains 52 weeks of price and sales data for 3 carton sizes of beer at a
small chain of supermarkets.  The price and quantity-sold variables have all been converted
to a per-case (i.e., per-24-can) basis to allow prices and quantities to be directly compared in
charts and model coefficients.  For example, the value of $19.98 for the price of 12-packs in
week 1 means that a 12-pack sold for $9.99 in that week, and the value of 223.5 for cases of
12-packs sold in that week means that 447 12-packs were sold.
The following worksheets illustrate the analysis of this data using Linear Regression Model
in MS Excel.
Objectives
 To fit a simple regression model to predict sales of 18-packs from price of 18-
packs.  
Here is the standard regression summary output (as formatted by Regress it) for a
model in which SALES_18PK is the dependent variable and PRICE_18PK is the
independent variable:

Observations
 The estimated regression equation is printed out at the top:  Predicted
CASES_18PK = 1822.97759 – 93.578458*PRICE_18PK.  It shows how the
coefficients that appear in the regression summary table below are to be used in
predicting sales from price.  This is the equation of a straight line
whose intercept is 1822 and which has a slope of -93.578458, which means the
model predicts that 93 fewer cases worth of 18-packs will be sold per
$1 increase in the price per case.
 From the usual 2-standard-error rule of thumb, it follows that a 95% confidence
interval for a forecast from the model is approximately equal to the point
forecast plus or minus 2 times the standard error of the regression.  
  The most important number in the output, besides the model coefficients, is the
standard error of the regression, which is 131.54 in this case.
 Because this is a simple regression model, R-squared is merely the square of the
correlation between price and sales:  0.74933721 = (-0.86564266)2
 The estimated intercept is 1823 (cases) with a standard error of 131.011702.  The
standard error of a coefficient is the estimated standard deviation of the error in
estimating it. By the usual rule of thumb, an approximate 95% confidence
interval for a coefficient is the point estimate plus or minus two standard errors,
which is 1823 +/- 2(131) = [1559,2086] for the intercept.  The exact 95%
confidence interval is [1559,2086] as shown in the regression summary table.
 The coefficient of PRICE_18PK is -93.57 with a standard error of 7.73, and its
95% confidence interval is [-109.1, -78.04]

INTERPRETATION/CONCLUSION
The P value for the model is 0.035843, which is less that 0.05 and therefore this shows that there is a significant
relationship between both the factors in the model
The R square value here is 0.749 and it is considered to show that the model is strong as it is close to the value 1.
We can conclude that there is a significant impact of no. of cans in one pack on prices of those each pack.