an economics strategy analysis question

Case 1 (1 point): Suppose that you were hired by Albertsons to study consumers´ sensitivities to Pepsi-Cola and Coke, in Irvine. In particular, Albertsons would like to know whether its national advertisement expenditure level of Coke and the price of the 16 oz 24 can case Pepsi Cola have significant impact on the demand of the 16 oz 24 can case Coke. However, Albertsons is not sure whether the two soft drinks are really substitute goods. Albertsons has provided you with the information below to examine the relevant elasticities of Pepsi-Cola and Coke and to investigate whether the two products are indeed substitutes. Develop an econometric model and estimate such a model to determine all the elasticities necessary to discuss the case. Make sure you apply all the approaches explained in lecture class to investigate whether two products are substitutes and should be part of the same relevant market. Once you have all your results, provide advice to Albertsons. Make sure you comment your results using economic concepts

Table 1: Price Schedule (in US$) of 16 oz 24 can case of Coke and Pepsi-Cola

Table 2: 20 weeks of data with information on Coke’s advertisement expenditure (in million dollars), the price of Pepsi Cola (in dollars), the price of Coke (in dollars) and quantity sold of Coke (in cases).