Please show step by step so I can understand the process and attach excel spreadsheet. You will need data analysis add-on or stat tool. Use the output from the regression analysis to calculate the elasticity.

In this project, you are asked to take sales data, estimate a demand function, and make a management decision based on your calculations.

A B C D E 1 Ice cream sales data 2 Day Sales per hour Price Avg Temp 3 16.72 0.75 82 4 2 18.54 0.75 81 5 3 13.45 0.75 70 6 4 15.35 0.75 65 13.59 0.75 78 8 15.21 0.75 76 9 18.47 0.75 87 LO 8 10.70 1.50 70 11 9 14.79 1.50 83 12 10 14.66 1.50 77 13 11 9.72 1.50 68 14 12 12.04 1.50 71 15 13 11.75 1.50 70 16 14 14.62 1.50 78 17 15 15.31 1.25 74 18 16 11.02 1.25 68 19 17 13.45 1.25 70 20 18 15.03 1.25 70 21 19 15.79 1.25 72 22 20 17.00 1.25 73 23 21 13.24 1.25 74 24 22 14.30 2.00 80 25 23 10.06 2.00 67 26 24 9.82 2.00 69 27 25 13.37 2.00 86 28 26 14.48 2.00 84 29 27 7.25 2.00 65 30 28 13.26 2.00 86 31 29 13.55 1.00 86 32 30 15.03 1.00 90 33 31 14.12 1.00 71 34 32 18.89 1.00 91 35 33 15.77 1.00 76 36 34 15.34 1.00 73 37 35 16.22 1.00 85 38 36 16.40 2.25 88 39 37 11.27 2.25 77Re A B C D E F G 39 37 11.27 2.25 77 40 38 13.14 2.25 79 41 39 13.30 2.25 85 42 40 11.29 2.25 77 43 41 12.22 2.25 78 44 42 12.45 2.25 73 45 43 17.82 0.50 84 46 44 18.58 0.50 86 47 45 20.35 0.50 89 48 46 17.73 0.50 88 49 47 16.08 0.50 90 50 48 15.72 0.50 83 51 49 15.93 0.50 85 52 50 15.41 1.75 65 53 51 11.59 1.75 65 54 52 10.99 1.75 74 55 53 12.66 1.75 75 56 54 11.39 1.75 81 57 55 14.55 1.75 93 58 56 13.97 1.75 83 59 57 12.43 1.35 72 60 58 14.24 1.35 93 61 59 13.08 1.35 72 62 60 12.14 1.35 67 63 61 15.35 1.35 84 64 62 12.10 1.35 65 65 63 14.57 1.35 80 66 64 12.98 1.65 75 67 65 11.56 1.65 77 68 66 12.05 1.65 72 69 67 14.15 1.65 86 70 68 13.31 1.65 67 71 69 13.90 1.65 91 72 70 14.31 1.65 79 73 74 75