DEPENDENT VARIABLE Qc R- SQUARE P- VALUE ON F     64 0.8093 0.0001             INDEPENDENT VARIABLE PARAMETER ESTIMATE STANDARD ERROR T-RATIO P-VALUE INTERCEPT 8.20  4.01 2.04 0.0461           PC -3.54 1.64 -2.16 0.0357 M 0.64287 0.19 3.38 0.0014 PA 0.7854 0.38 2.07 0.0439 7. If the price of asphalt (PR) decreases by 15, what will happen to the estimated quantity of cement demanded?  Q = f( P, M, PR) where Qc =  demand for cement/month (in yards) Pc = the price of cement per yard, M = country’s tax revenues per capita, and PR = the price of asphalt per yard.

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