Toyota’s massive accelerator pedal’ recall in 2009. The data includes information from ‘sticking all 50 states. Methods and sources of data collection The US Camry sales data was obtained from press releases on the Toyota website. Nominal Gross Domestic Income was obtained from the Bureau of Economic Analysis and was converted to Real GDI using CPI data obtained from the Bureau of Labor Statistics. The CPI info uses 1982-1984 as its base year. Population info was obtained from the International Monetary Fund and nominal retail gas prices were obtained from the US Energy Information Administration. For the Camry and Accord, the original MSRP retail prices were obtained from both Nada Guides and MSN Autos. I converted the nominal GDI; nominal gas prices; and the Camry and Accord MSRP prices, all to real values using the equation: Real value t = (CPI base year / CPI t) x Nominal value t Definition of variable measurements The dependent variable measuring demand is car sales per capita. Car sales are the number of Camry’s sold in the US for each year and this number is stated per 10,000 people in the US. Based on my literature review and other research, it has become clear to me that the following variables affect Camry sales per capita: Per capita income: The real annual Domestic Income per capita in the US. This data is calculated by dividing real GDI by total population. GDI is the total income received by all sectors of an economy within a nation over a period of time, usually one
Toyota’s massive ‘sticking accelerator pedal’ recall in 2009. The data includes information from all 50 states. Methods and sources of data collection The US Camry sales data was obtained from press releases on the Toyota website. Nominal Gross Domestic Income was obtained from the Bureau of Economic Analysis and was converted to Real GDI using CPI data obtained from the Bureau of Labor Statistics. The CPI info uses 1982-1984 as its base year. Population info was obtained from the International Monetary Fund and nominal retail gas prices were obtained from the US Energy Information Administration. For the Camry and Accord, the original MSRP retail prices were obtained from both Nada Guides and MSN Autos. I converted the nominal GDI; nominal gas prices; and the Camry and Accord MSRP prices, all to real values using the equation: Real value t = (CPI base year / CPI t) x Nominal value t Definition of variable measurements The dependent variable measuring demand is car sales per capita. Car sales are the number of Camry’s sold in the US for each year and this number is stated per 10,000 people in the US. Based on my literature review and other research, it has become clear to me that the following variables affect Camry sales per capita: Per capita income: The real annual Domestic Income per capita in the US. This data is calculated by dividing real GDI by total population. GDI is the total income received by all sectors of an economy within a nation over a period of time, usually one
ECO%20328%20Final%20Project_Michael%20Asa-Eck.docx