Write the theoretical demand equation using the appropriate variable names you created when you prepared data for analysis. The variable names should be very short and must be in capital letters. For instance, QTY for Y, PRPIZZA for X1, PRSDRK for X3. For example, if you used QTY for quantity, use QTY in the estimating demand equation rather than Y. Remember to use the exact same variable names you used in the data. In other word, do NOT use Y and X1, X2, X3, and so on, as done in the textbook. 2 After estimating the pizza demand, write the estimated demand equation. Make sure you use the estimated coefficients you obtained from the regression output. 3 Is the estimated coefficient of the price of pizza statistically significant at the 5% level? You can use either the t-test or the P-value, not both since both gives the same results (read my lecture note on testing hypothesis). What does it mean when you reject the null hypothesis? 4 Compute the own price elasticity of demand. In regression analysis, you must use the point elasticity of demand, not the average price elasticity of demand as you have done on the exam. You should have learned of this when you took Business Calculus such as ∆Y/∆X. When computing the own price elasticity of demand, use the average price, the average tuition, and the average soft drinks price. 5 What is the R-square? Explain the meaning the number you got.