QUESTION A market analyst of a private power supply company wants to state a demand functions for clienty con amption (ERC) for Klang Valley. He is considering Sout independent variables to be cluded in regression, which is the price of clectricity or tarif(CFD: the total population of Klang Valley POP the per capita income (MGDP and XXX. Please suggest to him the XXX variable, and the posible of relaticeship (positive negatives between the XXX and demand for electricity commance Smart MAX. ONE PAGE QUESTION 2 The estimation of demand function is Question (1) was carried out using time sedang period 1973 to 2012. The analyst found the linear demand function is the best functie de represent the demand function for electricity consumption in Klang Valley The output from his miss followed Dependent Variable EPC Method Lease Date: 04/11/13 Time: 15:41 Sample (adjusted: 1351 Included tervations for adults Variable Coeficient State C -9372588 M33124251.0 08375651262138712 CPU 3273642157860447 201904502005 -1.50139715011 MGOP 0.23874134598 0.00479269274216226 9.626240838834022563-33 POP 69060040229062 132.1032874366 0 ASRO271283 GASTRO291 Recured 16120348 Men dependent var Adjusted swed 0.9075326767519925 Sependent SE of regression | 3505927544344142 Alake into criterion Sum squared rend 4302004782300101-20 Schwarzeren Log Wood 910380866224764 Hanna-Guinn citer 05 F-statistic 1004.22260668075 Durtin-Watsons Prob statistic 5.39783170062006434 2 Since the analyst not familiar with the regression analysis, please help him to anywhere of his regression result in general, em to determine the factors the significantly affect demand for clectricity Consumption, and the impact of each significant factors the demand for electricity.com 25 mark MAX, ONE PAGE QUESTION The price elasticity of any product is expected to be low in the long runas compared to the role assume that you are a producer of Hell's food product and you are expecting your products SA and Japan. In which country do you think that your product is more elastic? Explain your were wide country, do you think that your product price elasticity of demand will reduce faster through Esplan why (25 MAX. ONE PAGE