Here are the results of the regression of the quantity demanded of product X (QX) on its own price (PX), consumer income (Y) and the price of a complementary good (PZ).QX = 121.86 – 9.50PX + 0.04Y – 2.21PZ (-5.12) (2.18) (-0.68)N = 20 R2 = 0.9633 F = 167.33(The numbers in parentheses are t-statistics.)Evaluate the results (A) in terms of the signs and values of the coefficients, (B) for the statistical significance of the coefficients, and (C) the explanatory power of the regression.
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