A local transit agency in Ontario collected the data given in the table below regarding the number of hourly tickets sold (q) based on the fare charged (Note: fares vary by several factors, e.g., age: Youth 14-18, Adult 19-64, seniors 65+, and free for children under 13, status: students, people with disability, etc.) Tickets sold/ hour Fare (S) 300 1.0 80 1.5 32 2.0 152.5 83.0 53.5 3 4.0 25.0 16.0 (a) Plot the data in spreadsheet and use the "Power" trendline to fit the data to a Kraft demand model. (b) Find the price elasticity of demand when Q = 10, Q = 100, and Q = 250. (c) What is the expected hourly revenue if the transit agency decided to charge a flat rate of $0.50. (d) The management team felt that the flat rate is too low and wanted to explore raising the rate to $0.75. What advice would you offer to management? (e) An engineer in the team thought it shouldn't be about revenue and wanted to explore options to encourage people to use active modes of transportation (e.g., walking, biking, using e-scooters, etc.). You supported this proposal and suggested that the agency should set the price to attract 100 riders per hour. The management team liked your suggestion and asked you to determine the fare and revenue for the scenario you suggested.