oucsnon 2 {mm} 'rou have been presented with the follotniing data and asked to t statistical demand functions: pmon """" at """ t """"" i=3 iE """""""""""""""""""""""""""""""""""" ______________ .1. _____________ 126 ___________ .5. ___________ 6. .66 ________________________________________ a ______________ 6 ______________ a ____________ 6 .6.5. ............ i ........... 5.66. ........... .............. 6. ............. . 156 ........... .6. ........... 1 :99 ........................................ 6 .............. i ............ 6 .65. ............ 666 ........... .............. 5. ......... " --------.1..66. ........... .6. ........... 6. 9 ....... i .............. 6 .............. : ............. 5.6 ............. i ........... 6 6:66. .......... : .............. 1 ............. . 156 ........... .6. ........... 6. :99 ........... ............................. 6 .............. i ............ 6 .56 ............ 166 ........... i .............. 5! ............. . 166 ........... .6. ........... 5 .199 ........... ............................. i ............. .11.]. ............ 266 ........... i ........... 2 -66 ........... .i ............................. a. linear Relationship i. Use any multiple regression packages to estimate a linear relationship between the dependent variable and the independent variables. ii. Is the estimated demand function I"good\"? Ilrl'il'hy or why not? iii. Discuss the economic implications of the various coefcients. [12] b. Non-linear relationship. I i. Select and estimate any form of nonlinear relationship. ii. Is the estimated demand function I"good"? Why or why not? Compare with the linear form above. Elaborate. I23] Fatal: 2!] marks]