omps [T Average' 2. Exercise 4.2 to use 15 test markets to examine the sensitivity of demand as shown in the following table. Advertising effort was t had approximately the same level of business activity and The Pilot Pen Company has decided for its new product to various prices, identical in each market. Each marke 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 (cents) (Thousands of i xj i xiyi xi? 1 50 20 1,000 2,500 400 2 50 21 1,050 2,500 441 3 55 19 1,045 3,025 361 4 55 : 19.5 1,072.5 3,025 380.25 o 60 20.5 1,230 3,600 420.25 6 60 v 19 1,140 3,600 361 7 65 . 16.5 1,072.5 4,225 272.25 8 65 15 975 4,225 225 9 5 70 14.5 1,015 4,900 210.25 10 70 155 1,085 4,900 240.25 11 80 13 1,040 6,400 169 12 80 14 1,120 6,400 196 13 S0 11.5 1,035 8,100 32 2D 14 30 11 990 8,100 121 15 40 17 680 1,600 289 15,550 % 67,100 4,218.5 Regression Parameters Estimations Slope (8) et Intercept (a) What is the standard error of the estimate (s.)? 105.552 1.732 1.483 What is the estimate of the standard deviation of the estimated slope (sp)? 0.031 1.904 0.027