Measuring and Testing Advertising-Induced Rotation in the Demand Curve

Table 2. Variable Definitions and Summary Statistics, 1970-2004

Variable	Definition__________________________________________________________	Mean	Minimum	Maximum	s.d.
q1	Per capita fluid milk consumption, gallons/person	26.13	21.20	31.30	2.92
q2	Per capita juice consumption, gallons/person	7.66	5.60	9.10	1.02
q3	Per capita soft-drink consumption, gallons/person	49.63	24.50	75.50	16.04
^q4	Per capita coffee-and-tea consumption, gallons/person	34.21	28.20	40.90	3.42
p1	Retail price for fluid milk, $/gallons, CPI deflated	1.86	1.55	2.51	0.29
p2	Retail price for juices, $/gallons, CPI deflated	3.03	2.73	3.43	0.19
p3	Retail price for soft drinks, $/gallons, CPI deflated	1.37	0.97	1.88	0.26
p4	Retail price for coffee and tea, $/gallons, CPI deflated	0.71	0.53	1.37	0.18
A1	Advertising expenditures for fluid milk, million $, MCI deflated	98.19	17.45	243.31	55.92
A2	Advertising expenditures for juices, million $, MCI deflated	428.00	85.40	702.04	128.36
A3	Advertising expenditures for soft drinks, million $, MCI deflated	845.63	258.96	1216.92	198.06
A4	Advertising expenditures for coffee and tea, million $, MCI deflated	498.75	150.39	823.16	189.08
^w1	Budget share for fluid milk, conditional	0.30	0.23	0.47	0.07
w2	Budget share for juices, conditional	0.14	0.11	0.17	0.02
w3	Budget share for soft drinks, conditional	0.40	0.25	0.50	0.08
w4	Budget share for coffee and tea, conditional	0.15	0.11	0.23	0.03
Fafh (%)	U.S. food-away-from home expenditures / total food expenditures	42.23	33.41	48.47	4.90
Age5 (%)	Proportion of the U.S. population less than age five_________________	7.37	6.78	8.37	0.41