Question 1 You have the following model: 1/7; = 12 + 3.5Xt 0.55Zt + E Where Y} is the provincewide sales of Samsung phones in $1K, X: is the pr0portion of individuals in the province below the age of 40, Zt is a weighted average of the prices of Apple phones and the data is biweekly. Standard errors are 3.2, 1.2 and 0.23 reSpectively, n=55 and R2=0.75 (a) Should you allow for seasonality? Why or why not? If so, how? (10) (b) Should you allow for a time trend? Why or why not? Whether you should or not, give two ways that you could do so. (10) (c) How can you test that 3X24? (X) (d) Do you think that the value of the R2 that you observe is normal? Why or why not? (10) (e) How can you test of the overall signicance of the model? Is this test valid in this context? (X) (f) You have reasons to believe that you may have reverse causation between sales and prices: what can you use as an instrument? Why would it work? (12)