12.You are the manager of a firm that sells a leading brand of alkaline batteries. A file named Q12.xls with data on the demand for your product is available online at www.mhhe.com/baye8e. Specifically, the file contains data on the natural logarithm of your quantity sold, price, and the average income of consumers in various regions around the world. Use this information to perform a log-linear regression, and then determine the likely impact of a 3 percent decline in global income on the overall demand for your product.

I would like to know how to work through this problem step-by-step please. I have the excel attachment that gives this info:

LN Quantity LN Price LN Income

1.07 1.15 4.4

1.07 1.09 4.39

1.08 0.97 4.4

1.08 1.04 4.39

1.09 0.92 4.39

1.08 0.96 4.39

1.1 0.77 4.39

1.1 0.79 4.39

1.08 1.06 4.39

1.07 1.13 4.39

1.08 0.96 4.4

1.08 1.02 4.39

1.09 0.82 4.39

1.07 1.1 4.39

1.09 0.9 4.39

1.1 0.77 4.39

1.09 0.91 4.4

1.08 1.07 4.4

1.09 0.88 4.39

1.07 1.16 4.39

1.08 1.08 4.4

1.08 1 4.39

1.09 0.88 4.39

1.07 1.13 4.4

1.07 1.09 4.39

1.11 0.64 4.39

1.09 0.9 4.39

1.07 1.19 4.4

1.06 1.27 4.39

1.08 0.94 4.39

1.07 1.1 4.4

1.13 0.28 4.39

1.08 0.97 4.4

1.09 0.86 4.4

1.07 1.13 4.39

1.08 1.03 4.39

1.08 0.96 4.39

1.08 0.95 4.4

1.07 1.12 4.4

1.1 0.7 4.4

1.08 0.99 4.39

1.08 0.98 4.39

1.08 1.07 4.4

1.07 1.1 4.4

1.07 1.21 4.39

1.09 0.93 4.39

1.08 1.04 4.4

1.09 0.9 4.39

1.08 0.97 4.39