ManuScript Details
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Paper Id:
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IJCIRAS1021
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Title:
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THE RELATIONSHIP BETWEEN THE MILK AND COOKIES CONSUMPTION IN THE US
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| Published in: |
International Journal Of Creative and Innovative Research In All Studies |
| Publisher: |
IJCIRAS |
| ISSN: |
2581-5334 |
| Volume / Issue: |
Volume 1 Issue 2 |
| Pages: |
5
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| Published On: |
7/15/2018 5:06:24 AM (MM/dd/yyyy) |
| PDF Url: |
http://www.ijciras.com/PublishedPaper/IJCIRAS1021.pdf |
Main Author Details
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Name:
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Md. Mominul Islam |
| Institute: |
Jagannath University, Dhaka. |
Co - Author Details
| Author Name |
Author Institute |
| Sabrina Islam |
Jagannath University, Dhaka |
Abstract
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Research Area:
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Economics |
| KeyWord: |
Milk, Cookies, Regression analysis, USA |
| Abstract: |
For doing this research, it is collected relevant data to estimate milk consumption in the United States. Our goal and objective were to prove whether there is a relationship between the amount of milk and cookies consumption in the USA. Analytical and empirical frameworks were outlined along with the datasets explained. As we analyzed and processed the data we were able to develop a hypothesis. In this hypothesis, we assumed milk and cookies were complementary goods. We used regression analysis in order to formulate a demand estimation equation for U.S. milk and cookie consumption. After analyzing and verifying the statistical significance of the data, the results show our hypothesis was correct. We further analyzed the data using the elasticity of demand in order to determine the degree more accurately to which our independent variables affected our dependent variable. Using the elasticity of demand, we were able to show the effects a change on one independent variable had on the dependent variable, demand for milk in the U.S. We then made recommendations in regard to the elasticity of demand is used; if the price of cookies goes up 10%, and then the demand for milk will decrease 2.8%. Lastly, in regard to income, since there is a negative coefficient of (-0.29), it means Milk is classified as an inferior good and therefore less will be purchased when income increases. |
Citations
Copy and paste a formatted citation or use one of the links to import into a bibliography manager and reference.
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IEEE
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Md. Mominul Islam, Sabrina Islam, "THE RELATIONSHIP BETWEEN THE MILK AND COOKIES CONSUMPTION IN THE US", International Journal Of Creative and Innovative Research In All Studies,
vol. 1, no. 2, pp. 16-20, 2018.
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MLA
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Md. Mominul Islam, Sabrina Islam "THE RELATIONSHIP BETWEEN THE MILK AND COOKIES CONSUMPTION IN THE US." International Journal Of Creative and Innovative Research In All Studies,
vol 1, no. 2, 2018, pp. 16-20.
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APA
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Md. Mominul Islam, Sabrina Islam (2018). THE RELATIONSHIP BETWEEN THE MILK AND COOKIES CONSUMPTION IN THE US. International Journal Of Creative and Innovative Research In All Studies,
1(2), 16-20.
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THE RELATIONSHIP BETWEEN THE MILK AND COOKIES CONSUMPTION IN THE US
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