A sample of 15 observations on household expenditures for natural gas and electricity is used to estimate a linear demand function for gas.The dependent variable (Y) is the quantity of gas consumed (thousand cubic feet), while the independent variable is electricity cost (X), measured in dollars.You are planning to estimate the regression model Yi = B_o + B₁ Electricity cost +u_iand obtain Y(hat)_i= B(hat)_o + B(hat) X_i .That is, the model is

Quantity of gas consumed t = B_o + B₁ Electricity cost_i + u_i

The relevant sample data are as follows:

3.Estimate the slope coefficient.

a.-1.570

b.-0.880

c.-1.123

d.-1.304

4.Estimate the intercept coefficient.

a.28.85

b.12.02

c.15.66

d.22.03

5.Find

a.0.750

b.0.501

c.1.993

d.0.498

Use the following information to answer the next three questions. A sample of 15 observations on household expenditures for natural gas and electricity is used to estimate a linear demand function for gas. The dependent variable (V) is the quantity of gas consumed (thousand cubic feet), while the independent variable is electricity cost (X), measured in dollars. You are planning to estimate the regression model Y = So + 8, X, + w; and obtain Y = Po + 8,*;- That is, the model is Quantity of gas consumed, = Bo + #, Electricity cost, + u, The relevant sample data are as follows: X = 15, P = 12. > x7 = 4305. > v2 = 4500 > XM = 1655,n = 15 8. Estimate the slope coefficient. -1.570 b. -0.880 C. -1.123 d. -1.304 9. Estimate the intercept coefficient. a. 28.85 b. 12.02 15.66 d. 22.03 10. Find R2 a. 0.750 b. 0.501 c. 1.993 d. 0.498