Can I get guidance on how to answer this question? It is part of a homework assignment, I don't want the answer, but maybe what a formula I would use looks like?

1.Sherwin-Williams Company is attempting to develop a demand model for its line of exterior house paints. The company's chief economist feels that the most important variables affecting paint sales (y) (measured in thousand gallons) are

• Promotional expenditure (a) (measured in thousand dollars)
• Selling price (p) (measured in dollars per gallon)
• Disposable income per household (m) (measured in thousand dollars).

Using the variables specified by the Company's chief economist, the Research Department obtained from a data set of thirty observations the following estimation result of a log-linear regression model given by .

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|CoefficientStd. Err.tP>|t|[95% Conf. Interval]

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|-.0232291.1420415-0.160.875-.3707923.324334

|-1.037375.3655166-2.840.030-1.931762-.1429884

|.3882373.37533801.030.341-.53018161.306656

constant |6.9518671.4428534.820.0033.42133310.4824

First conduct an appropriate t-test for each independent variable except the constant as to whether it is statistically significant at the 95% confidence level, and then make an economic interpretation of each of the statistically significant coefficients.