Use the following information to answer the questions below. Suppose you had data on health care expenditures where the mean expenditure was $6,000 and the median was $3,000. You ran a regression on health expenditures as a function of coinsurance rate, income, gender, and urban (lived either in an urban or rural area). You obtained the following results with all coefficients highly significant:

Exp= 3500 - 2000*coinsurance+0.02*income+450*female+150*urban

1. Describe whether this is a normal or skewed distribution of expenditures
2. If the coinsurance rate goes from 0 to 1, how much will this change expenditure?
3. Do females spend more than males? How much more?
4. What is the interpretation of the coefficient on income?
5. If the mean income is $50,000, what is the income elasticity of demand?
6. If the mean coinsurance rate is 0.6, what is the price elasticity with respect to coinsurance?