5.3 Your marketing research department estimates that the log-linear demand function for your product is ln Qd = 8.7 - 1.6ln P. The standard error of the coefficient for ln P is 0.3, and the 95 percent confidence interval runs from -2.2 to -1.0. At a price of $30, what is the predicted price elasticity of demand? Calculate the 95 percent confidence interval for the elasticity using the 95 percent confidence interval for the estimated coefficient.