Assume the focus group data is used to estimate the demand for iPhone12. Specifically demand is scheduled to be given by q = a + b p. Where Q is the quantity demanded by the focus group and P is the price in dollars.

assume The estimates of A and B are 40 and 0.0025 respectively.Further assume the standard error of the estimates of A and B are 75 and 0.005 respectively. With p = 1200 the demand for iPhone 12 is _______________ The t statistic for a test of the b = hypothesis has the value