Consider the following three market price data.
(a) Enter the following sales data using Excel.
sales = x1sales = x2sales = x3Price A ($)101010100101013991010159812101098121210971214109514101094
(b) Use LINEST to find a linear price function for the abovedata for three markets. (Note: You will be using the format (Price= b + m1*x1 + m2*x2 +m3*x3) where Price = P(x1,x2, x3) and the values for b,m1, m2, and m3 are all numerical values.Enter all values correct to 2 decimal places.)
P(x1, x2, x3)= + *x1 + *x2+ *x3
(c) Use the values for b and the three slopes to predictthe price when the sales are x1 = 15, x2 = 20,and x3
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