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13. The following results have been obtained from a simple of 11 observations on the values of sales (Y) of a firm and the corresponding

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13. The following results have been obtained from a simple of 11 observations on the values of sales (Y) of a firm and the corresponding prices (X). EX: = 5710.98 EY, = 2396.02 EX? = 3,134,543 EXY: = 1,296,836 EY? = 539,512 1 . Estimate the regression line and interpret the results ii What is the part of the variation in sales which is not explained by the regression line? 111. Estimate the price elasticity at the mean value. iv. Calculate coefficient of determination. V. Compute the standard error of the intercept and slope coefficients. VI. Test the significance of the parameters at 5% level of significance

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