suppose you want to explore dynamics of pepper rice. Propose your empirical model and discuss estimation...

suppose you want to explore dynamics of pepper rice. Propose your empirical model and discuss estimation strategies which are going to be useful in your empirical work

Expert Solution

Indian pepper rice is a spicy recipe. There are several verities of pepper rice available in different part of India. Collecting the data regarding the places where this dishes available. The taste will differ in different places. Most in village areas they prepare this food using some different kind of spices. It will taste better than the five star dishes.
The empirical model which formed will be tasting the dishes from where the places available. Through direct questioning, make a chart of different varieties of the same recipe. Collect data the restaurant which this recipe available. Among this taking some samples which have different taste. Tried to an empirical relation between demand for the recipe and number of chefs available to cook that dish. Find a utility function from the customers who have this recipe once in a week. Comparing the trends in price of pepper rice over the last 10 years. Tried to find the availability of raw materials which need for this dish.

Rahul Sunny answered 1 year ago

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