Search Results
Abstract
Fresh market demand relationships were estimated for several major markets for North Carolina, New Jersey, and Michigan fresh blueberries. Demand relationships were estimated from daily price and unload statistics for the 1965–1971 seasons by regression analysis using daily price as the dependent variable. Zero-one variables were used to account for the seasonal and within season effects.
The relationships accounted for 50 to 70% of the variation in daily prices during the 7-year period. The remaining unexplained variation resulted in standard errors of estimate of around 15 cents per flat for most markets. Large standard errors associated with the quantity coefficients appeared to be related in part to the relatively large and discrete intervals used in price reporting by the Market News Service. The quantity coefficients were relatively small. These indicated rather elastic demands for fresh blueberries in the major markets.