1. Suppose that the monthly demand of food oil by a household is influenced by both the monthly income and the price of oil per Liter. The table illustrated in the following will provide you a data on monthly demand, income in birr, and price per Liter in birr. With this information:
2. Evaluate linearity, normality, homoscedasticity, and multicollinearity tests and interpret the results. Assess the fitness of the model and determine the R-square value. And interpret the results
3. Calculate the effect of price and income on a consumer, test for significance and test the hypotheses with interpretation

Monthly demand for household with income and price

Months	Demand for oil/liters	Monthly income in birr	Price in a Liter
1	15.0	2000	2.50
2	15.2	2100	2.45
3	14.8	2200	2.60
4	15.5	2300	2.55
5	14.5	2400	2.70
6	16.0	1600	2.65
7	14.0	2600	2.80
8	16.5	2700	2.75
9	13.5	2800	2.90
10	17.0	2900	2.85
11	13.0	3000	3.00
12	17.5	1750	2.95
13	12.0	3200	3.10
14	18.0	3300	3.05
15	11.5	3400	3.20
16	18.5	3500	3.15
17	11.0	3600	3.30
18	19.0	1900	3.25
19	10.5	3800	3.40
20	19.5	3900	3.35
21	10.0	4000	3.50
22	20.0	4100	3.45
23	9.5	4200	3.60
24	20.5	4300	3.55
25	9.0	4400	3.70
26	21.0	4500	3.65
27	8.5	4600	3.8
28	21.5	4700	3.75
29	8.0	4800	3.80
30	22.0	4900	3.85