Homework (Ch 04) 5 Complete the following worksheet and then estimate the demand function for Pilot's new pen using - 4 linear regression model. Price Charged Quantity Sold Test (cents) (Thousands of Pens) Market i 50 20 1,000 1 2 50 21 1,050 3 55 19 1,045 4 55 19.5 1:072.5 5 60 20.5 1,230 6 60 19 1,140 7 65 16.5. . 1.072:5 8 65 15 975 9 70 14.5 1,015 10 70 15.5 1,085 11 80 13 1,040 6,400 12 80 14 1,120 6,400 196 13 90 11.5 1,035 8,100 132125 14 11 121 - un Total 980 Regression Parameters Estimations Slope (#) Intercept (a) e v e What is the standard error of the estimate (se)? 105.552 1.732 1.483 What is the estimate of the standard deviation of the estimated slope (sb)? 0.031 1.904 0.027 Can you reject the hypothesis (at the 0.05 level of signicance) that there is no relationship (i.- p =0) between the price and quantity variables? (Hint! 10.025,13 2.16) No Yes