A quant jock from your firm used a linear demand specification to estimate the demand for its product and sent you a hard copy of the results. Unfortunately, some entries are missing because the toner was low in her printer. Use the information presented below to find the missing value labeled "1" through "7" (round your answers to the nearest hundredth). Then answer the accompanying questions

SUMMARY OUTPUT

Regression Statistics

Multiple R

0.38

R- Square

"1"

Adjusted R - square

"2"

Standard Error

20.77

Observations

150

Analysis of Variance

Degree of freedom

Sum of squares

Mean square

F

Significance F

Regression

2

"3"

12.05

0

Residual

147

63,408.62

5199.43

Total

"4"

73,807.49

431.35

Coofficients

Standard Error

t- Statistic

P- Value

Lower 95 %

Upper 95%

Intercept

58.87

"5"

3.84

0

28.59

89.15

Price of X

-1.64

0.85

"6"

0.06

-3.31

0.04

Income

"7"

0.24

4.64

0

0.63

1.56

a.Based on these estimates, write a equation that summarizes the demand for the firm's product.

b.Which regression coefficients are staticstically significant at the 5 % level?

c.Comment on how well the regression line fits the data?