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It is believed that the sales volume of one-liter Pepsi bottles depends on the price of the bottle and the price of a one-liter bottle of Coca-Cola. The following data have been collected for a certain sales region. The linear model Pepsi Sales = β0 + β1Pepsi Price + β2Cola Price + ε and the log-log model ln(Pepsi Sales) = β0 + β1 ln(Pepsi Price) + β2 ln(Cola Price) + ε have been estimated as follows:
Using the linear model and holding Cola Price constant, what is the predicted change in the Pepsi Sales if the Pepsi Price increases by 10 cents?
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