Calculate the multiple regression that relates Q with P , Y , and A . Which variables are statistically significant? What is the elasticity of Q with respect to P , to Y , and/or to A ?

Now consider questions 1 to 4:

Q = Quantity (in 100s) of aspirin purchased in a year
P = Average price of aspirin in that year
Y = Annual income
A = Age of buyer

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Observation 1 2 3 4 5 6 7 8 9 10 11 12 Q 1 2 4 wNN 2 3.5 4 7 1 2 WN 3 P 1.5 1.5 1 1 1 2 1.5 2 1 322 Y 20 40 12 10 8 30 30 20 20 15 18 20 A 25 20 25 30 30 35 40 40 45 40 30 32