MutiaraEnterprise is a company that produces cosmetic. The company estimates that the demand for its cosmetic is shown by the following regression equation:

Q = 70 - 6.5P + 0.14Y - 10.77P_C

(12.65) (3.15) (0.013) (2.45)

R² = 0.70

Standard error of estimate (See) = 12.5

Assume the following values for the independent variables:

Q = market demand for the cosmetic

P = price of the cosmetic = RM225

Y = consumers' average household income = RM24, 000

Pc= price of the competitor = RM60

a) Estimate the total quantity demand (Q) for Mutiara Enterprise