Estimating Demand Equation for A+ Rental Cars Franchise: Data Requirements

What data are needed for estimating a demand equation for an A+ Rental Cars franchise?

To estimate a demand equation for an A+ Rental Cars franchise, what factors should be considered?

Data Needed for Estimating Demand Equation

The data required for estimating a demand equation for an A+ Rental Cars franchise would include:

• The number of travelers passing through the regional airport
• The population of the town
• The number of students enrolled in the college
• The number of employees at the solar panel production facility
• The availability of alternative transportation options such as taxis and buses
• The average income of the town's residents
• The overall economic conditions of the area

The dependent variable in the regression analysis would be the customer traffic or the number of customers visiting the A+ Rental Cars franchise. This variable represents the demand for rental cars and can be measured in terms of the number of customers per unit of time, such as per day, per week, or per month.