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I need help with the rest of this The Pilot Pen Company has decided to use 15 test markets to examine the sensitivity of demand

I need help with the rest of this

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The Pilot Pen Company has decided to use 15 test markets to examine the sensitivity of demand for its new product to various prices, as shown in the following table. Advertising effort was identical in each market. Each market had approximately the same level of business activity and population. Complete the following worksheet and then estimate the demand function for Pilot's new pen using a linear regression model. Price Charged Quantity Sold Test Market (cents) (Thousands of Pens) 20 1,000 2.500 400 50 21 1,050 2.500 441 55 19 1,045 3.025 361 55 19.5 1,072.5 3,025 380.25 19.5 1,170 3,600 380.25 19 1,140 3,600 361 16 1,040 4,225 256 15 975 4,225 225 14 980 4,900 196 15.5 1,085 4,900 240.25 13 1,040 6,400 169 12 80 14 1,120 6,400 196 90 11.5 1,035 8,100 132.25 14 90 11 990 8,100 121 15 17 680 1,600 289 Total 245 15,122.5 7 67,100 4,148Regression Parameters Estimations Slope (8) Intercept (a) What is the standard error of the estimate (s,)? O 1.648 O 104.723 O 1.415 What is the estimate of the standard deviation of the estimated slope (s)? O 0.026 O 1.889 O 0.030 Can you reject the hypothesis (at the 0.05 level of significance) that there is no relationship (Le., # = 0) between the price and quantity variables (Hint: tones,13 = 2.16) Yes O NOComplete the following worksheet and then use it to calculate the coefficient of determination. 50 20 19.252 8.519 13.444 21 19.252 6.519 21.778 55 18.302 3.876 7.111 4 19.5 18.302 3.876 10.028 5 60 195 17.352 1.038 10.028 60 19 17.352 1.038 7.111 65 16 16.402 0.005 0.111 65 15 16.402 0.005 1.778 70 14 15.452 0.777 5.444 10 70 15.5 15.452 0.777 0.694 11 12 13.552 7.736 11.111 12 14 13.552 7.736 5.444 13 11.5 11.652 21.915 23.361 14 90 11 11.652 21.915 28.444 15 17 21.152 23.220 0.444 Total 111.729 124.553 The coefficient of determination (r?) is What is the price elasticity of demand at a price of 50 cents? 0 -0.46 O -0.50 O 0.03 0 -0.02

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