Please read the case below and answer the following questions. Please show your calculations or attach a spreadsheet showing how you calculated each of the responses:

As the Apple Watch team planned for their US launch for the first quarter of 2015, an estimated monthly demand function for the US market was derived as shown in Figure 1:

Q_AW=-150,000-2400P_AW+1520P_GearS+1200P_Pebble-1200P_iPhone6+44A

Where Q_AWis the quantity demanded of the Apple Watch per month, P_AWis the price of the Apple Watch (dollars per unit), P_GearSis the price of the Samsung Gear S watch (dollars per unit),P_Pebbleis the price of the Pebble Steel (dollars per unit), P_iPhone6is the price of the mid-range iPhone 6 smartphone (dollars per unit), A is the quarterly targeted advertising budget for the Apple Watch (in thousands of Dollars per quarter). The estimated values are:P_AW= $349, P_GearS= $380, P_Pebble= $220, P_iPhone6= $299, A = $15,500 . Calculate the following.

1.Calculate the Monthly estimated Quantity demanded for Apple WatchQ_AW

2.Use the relevant information from the estimated monthly demand function to calculate the elasticity values for each of the explanatory variables and interpret what the numbers mean.

3.Construct the Demand equation, Inverse Demand Equation

4.If the Marginal cost is assumed to be constant at $178, calculate and compare the Profit Maximizing Price and Quantity with the Revenue Maximizing Price and Quantity. Comment on your findings.