I. Estimate regression parameters and answer the questions. Show your work handwritten with the exception of question (v). The UW Bookstore manager at the University of Wisconsin-Madison is attempting to develop a model to identify the effects of some variables on social sciences book sales. One of its economists understands that some of the important variables related to this book sales (dependent variable) are: a. Market Price (MP) = the price of social science book. b. Income (I) = the purchasing power of customers. c. Promotional Costs (PC) = promotional expenditures. The economist decides to collect data on the variables in a sample of 10 areas in the state of Wisconsin, including the city of Madison. The data are shown in the file named UW Bookstore Data attached. (i) Suppose that only the variable PC is used to predict book sales. Derive the estimated equation. 1 (ii) How much of the variation in book sales (Y) is explained by PC? (iii) Suppose that you have been asked to predict book sales based on market price (MP), income (I) and promotional costs (PC). Derive the estimated equation. (iv) Based on the regression conducted to answer question (iii), which variable is statistically significant? Write the P-Value. (v) Copy and paste or attach the summary output (table) or results derived from the regression you conducted for question (iii).