A company's top brand shows the following data of its unit selling price and itscorresponding sales amount:

Unit price ($) Sales amount ($million)

11 1.5

13 1.2

14 0.8

12 1.3

15 0.7

1) Find a simple linear regression model with X = unit selling price and Y = salesamount.

2) If the company lowers its selling price to $10, what would be the expected salesamount?

3) Based on the regression model you find, estimate the change of sales amount(increase or decrease) according to one dollar increase of product price.

4) As you know, the sales amount is affected by many different variables such asprice, advertising, quality, product design, etc. what would you think how much theproduct price has an impact on sales in terms of percentage?