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f2. Take the logs of the variables, and estimate the demand function. a. Interpret the R-square. b. Interpret the coefficients for log and logPsub c.

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\f2. Take the logs of the variables, and estimate the demand function. a. Interpret the R-square. b. Interpret the coefficients for log and logPsub c. Interpret the p-values associated with each independent variable Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept -6.758 2.456 -2.751 0.016 -12.026 -1.490 -12.026 -1.490 In(P) -2.116 0.651 -3.252 0.006 -3.512 -0.721 3.512 -0.721 In(1) 1.331 0.413 3.222 0.006 0.445 2.216 0.445 2.216 In(A) 0.440 0.509 0.865 0.402 -0.651 1.531 0.651 1.531 In(Psub) 2.990 2.209 1.354 0.197 -1.747 7.728 -1.747 7.728 In(Pop) 0.908 0.187 4.853 0.000 0.507 1.310 0.507 1.310

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