The following table contains yearly data on theprice of beef ($/Kg) and the quantity demanded for beef (Kg) from 2014 to 2016: Year P 2014 1 6. 2015 4 2016 3 Where: Q: quantity demanded for beef (Lbs); P: price of beef ($/Lbs). Consider the following simple linear regression: Q= B, +B,P. 1. Use Ordinary Least Squares Method to estimate , and B,; 2. Interpret the slope; 3. Find the prediction line; and 4. Compute the coefficient of determination; that is, R; 5. What would be the effect of a $2 increase in price on quantity demanded? 6. What would be the effect of a $3 decrease in price on quantity demanded?