Exercise $4\mathrm{.}2$

The Pilot Pen Company has decided to use $15$ test markets to examine the sensitivity of demand for its new product to various prices, as shown in the following table. Advertising effort was identical in each market. Each market had approximately the same level of business activity and population.

Complete the following worksheet and then estimate the demand function for Pilot's new pen using a linear regression model.

$\backslash$table$[[$Test Market,$\backslash$table$[[$Price Charged$],[($cents$)]],\backslash$table$[[$Quantity Sold$],[($Thousands of Pens$)]],,,],[$i$,x_i,y_i,x_i{y}_i,x_i^2,y_i^2$