5. Below is Table 4 from our second lecture on RAND HIE. TABLE 4- VARIOUS MEASURES OF PREDICTED ANNUAL USE OF MEDICAL SERVICES, BY INCOME GROUP Significance Tests Income on Contrast of: Lowest Middle Hichev Middle Highest Third Third Third 45, LOWES! Lowest Plan Acan Mean Main Thirds* Thirds' Likelihood of Any Use (Percent) Free ST.4 491 Family Pay 25 Percent 71.6 50 Percent 4 15 4.86 95 Percent 13.8 Individual Deductible 65.3 719 7709 Likelihood of One or More Admissions (Percent)] 10.63 1014 10 35 -0.35 Family Pay 25 Percent 10.0 K 44 1.97 -2:95 -2.75 50 Percent 9.08 7.77 -1.78 -1.66 95 Percent 3 77 7 15 -2.79 -2.46 Individual Deductible 068 Expenses (1984 5) Free - 1.76 0.53 Family Pay 25 Percent 588 623 -3.17 - 1.47 50 Percent 610 580 590 - 1.89 -0.49 95 Percent 194 -3.09 -1.41 Individual Deductible 670 -0.57 1.38 Assume average income in the bottom, middle, and top income terciles make $15,000, $50,000, and $100,000, respectively. Focusing on expenses as the outcome (among the people randomized to the "Free" plan), what is the income elasticity of demand for healthcare using the midpoint method by comparing i) Middle vs Lowest terciles ii) Top vs Lowest terciles