Please answer questions 1-3 based on the below coefficients ( T stat) results.

b₀ = 86.0369913921696 (4.66942436082179)... the constant (intercept)

b₁ = -0.04818741160395 (-2.00366882771833) ...P_{G (own price of gasoline)}

b₂ = 0.00282179652160116 (7.1750027294528) ...M (per capital income)

b₃ = -0.671211703825764 (-2.79721635430366) ... P_nc (price index new cars)

b₄ = 0.363317876427334 (3.44316351601554) ...P_uc (price index for used cars)

b₅ = -0.0130492690332664 (-0.164531581503847) ...P_{pt (public transport)}

R² = 0.936980883612298 Adjusted R² = 0.923851901031527

1. What do they tell you about the demand for gasoline? If not, what you have learned about the demand for gasoline? Explain.

2. Which estimated coefficients are statistically significant? Which are not? Name them and briefly explain your answers.

3. What does the value you obtained for R² say about your regression (make a specific numerical reference based on the regression output provided)? Can you think of any other independent variables that might be included in the regression? Name them.