Assume that you are employed as an analyst at a pharmacy company that has hired a consulting firm to estimate the demand for a medicine for high blood pressure that the company has in its range (see below). It is now your job to explain to the manager what the demand is for the product, and how sensitive the demand is to changes in price and income. Do not forget to also explain how reliable the result is, as well as what data the consulting company has used.

SUMMARY OUTPUT Regression Statistics Multiple R 0,5582 R Square 0,5368 Adjusted R Square 0,5314 Standard Error 0, 1859 Observations 19,0000 ANOVA df SS MS F Significance F Regression 2,0000 12,2546 6, 1273 3,7349 0,0604 Residual 16,0000 0,5528 0,0345 Total 18,0000 12,8074 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept 0,4531 0,2036 1, 1638 0,5192 0, 1098 0,8832 Natural Logarithm of Price -0, 1365 0,0914 -2, 1761 0,0432 -0,2378 -0,0190 Natural Logarithm of Income 0,9017 0,5623 -1,7214 0,0876 0,3457 1,4577