4. Your company, which specializes in equipment for the popular activity combining equine sports and ice hockey (HorsePuckey@), has the following demand function: Q = a+ bP + cM + dR where O is the quantity demanded of HorsePuckey hockey pucks, P is the price of that product, M is consumer income, and R is the price of a related product. The regression results are: Adjusted R Square 0.6883 Independent Variables Coefficients Standard Error t Stat P-value Intercept 9975.02 97.02 102.81 6.64E-42 P -8.537 3.193 -2.674 0.012 M 0.0058 0.002 3.812 0.001 R -3.65 1.427 -2.556 0.016 a. Discuss whether you think these regression results will generate good sales estimates for HorsePuckey. Now assume that the income is $58,952, the price of the related good is $13.50, and HorsePuckey chooses to set the price of its product at $6.38. b. What is the estimated number of units sold given the data above? (round to nearest unit; no decimals) c. What are the values for the own-price, income, and cross-price elasticities? d. If P increases by 8%, what would happen (in percentage terms) to quantity demanded? e. If M decreases by 2%, what would happen (in percentage terms) to quantity demanded? f. If R increases by 3%, what would happen (in percentage terms) to quantity demanded