Q2:uppose that GM's Smith estimated the following regression equation for Chevrolet automobiles:

Qc=100.000-100Pc+2.000N+50I+30Pf -1.000Pg+3A+40.000PI Where

Qc= quantity demanded per year of Chevrolet automobiles

Pc= price of chevrolet automobiles, in dollars

N= population of the US, in millions

I= per capita disposable income, in dollars

Pf= price of ford automobiles, in dollars

Pg= real price of gasoline, in cents per gallon

A=advertising expenditures by Chevrolet, in per dollars per year

PI= credit incentives to purchase Chevrolets, in percentage points below the rate of interest on borrowing in the absence of incentives.

a) Indicate the change in the number of Chevrolets purchased per year (Qc) for each unit change in the dependent or explanatory variables.

b) Find the value of Qc if the average value of Pc= 9000$, N= 200 million, I= 10000$, Pf=8000$, Pg=80 cents, A= $200.000 and if PI=1. Show and explain all the steps.

c) Derive the equation for demand curve for Chevrolets. Explain your steps.