Question
In: Economics
A local Birmingham-area restaurant chain introduced a new summer menu in its Vestavia Hills location, but...
A local Birmingham-area restaurant chain introduced a new summer menu in its Vestavia Hills location, but not its Mountain Brook location. Nightly revenue averaged $6,000 in Vestavia Hills and $4,000 in Mountain Brook before the menu change, but $7,000 in Vestavia Hills and $3,000 in Mountain Brook after the menu change. The difference-in-difference estimate of the increase in average nightly revenue attributable to the menu change is
a.$4,000
b. $0
c.$1,000
d.$2,000.
Solutions
Expert Solution
Birmingham space edifice introduced a brand new summer menu in Vestavia and not at Mountain Brook location.
Vestavia revenue averaged $6,000 and Mountain Brook revenue averaged $4,000 before the menu change.
Vestavia revenue averaged $7,000 and Mountain Brook revenue averaged $3,000 after the menu change.
a. it's also outlined as the difference in average outcome in treatment change that is Vestavia before and once the meny modification minus the difference in average outcome in Mountain Brook location which is the control group before and once the introduction of the menu modification.
Thus (7000 - 6000 ) - ( 3000 - 4000 ) =1,000 - 1,000 = $0
option 'b' is correct
Rahul Sunny answered 2 years agoRelated Solutions
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