ata is used to estimate a model (Model A) in which the weekly quantity of beer purchased in Winnipeg, measured in thousands of bottles, is regressed on the price of a bottle of beer. The results are presented below: quantity = 9.11 .31price, (.225) (.13) price = 1.75, n = 52, R2 = .11. where price is the price of a bottle of beer, price is the the sample mean of the variable price, and the numbers in parentheses indicate the standard errors of the respective coefficient estimates. Answer the questions that follow. (a) (5 marks) Provide a brief economic interpretation of the estimates of the intercept and the coefficient on price. (b) (5 marks) Interpret the R2. (c) (5 marks) Explain how you would test the hypothesis that price = 0. Other than the Gauss-Markov assumptions, are any additional assumptions required to ensure that your test statistic follows the specified distribution exactly in the finite sample case? (d) (5 marks) An extended model (Model B) is estimated in which the log of the quantity of beer purchased is a function of the log of the price of a bottle of beer and a dummy variable (EVENT) that