The following table gives the quantity demanded of ice cream (Q_ic) in kgs per year in Sardinia (Italy), its price (P_ic) in $ per kg, consumers’ income (I) in $, the temperature (T) in Celsius, and the price of cappuccino (P_c) in $ per kg:

 

Year	Qic	Pic ($/kg)	I($)	T	Pc ($/kg)
2000	72000	11	2000	20	14
2001	81000	10	2100	24	15
2002	90000	9	2200	25	15
2003	99000	7	2305	26	16
2004	108000	6	2407	30	17
2005	126000	4	2500	32	18
2006	117000	7	2610	26	16
2007	117000	8	2698	25	16
2008	135000	5	2801	31	18
2009	135000	5	2921	31	18
2010	144000	4	3000	34	20
2011	180000	2	3099	36	21
2012	162000	5	3201	33	19
2013	171000	4	3308	35	21
2014	153000	6	3397	30	18
2015	180000	3	3501	35	22
2016	171000	4	3689	33	20
2017	180000	3	3800	36	23
2018	198000	2	3896	36	25
2019	189000	4	3989	34	23
2020	175000	6	3600	30	18

Based on the data provided in the table:

 

1.   

A. Given the nature of the problem, which would be the dependent variable and which would be the independent variables? B. Using the regression facility in Excel, determine the estimated regression line using a linear multiple regression. Does this model fit the data? If it does, please write the estimated equation. If not, what do you think the problem might be? How do you know? Please, attach the page of the regression analysis output. C. Using the regression facility in Excel, determine the estimated regression line using a nonlinear multiple regression. Does this model fit the data? Why? If it does, please write the estimated equation. Please, attach the page of the regression analysis output. D. Based on the best model, test the hypothesis that there is no relationship between the demand for ice cream and each one of the independent variables. Also, indicate the statistical significance of each of the independent variables.