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 5. If the price of cement per yard increases by 10, what will happen to the estimated quantity of cement demanded? What happens if it will increase by 20%?

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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

5. If the price of cement per yard increases by 10, what will happen to the estimated quantity of cement demanded? What happens if it will increase by 20%?

 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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