** Please use excel and show the steps**

Southern Cotton International is a textile company. It offers two main products. Its marketing department has recently estimated the demand function, facing SCI: Demand for product 1: 1 = 0 + 11 + + + 1 is the quantity demanded for product 1 (in natural log), 1is the price of product 1 (in natural log), is the price of product 1's substitute (in natural log), is the price of product 1's complement (in natural log), and is the error term. Parameter 1 is estimated to be equal to -0.45 (with standard error being equal to 0.15).

Demand for product 2: 2 = 0 + 22 + + + 2 is the quantity demanded for product 2 (in natural log), 2is the price of product 2 (in natural log), is the price of product 2's substitute (in natural log), is the price of product 2's complement (in natural log), and is the error term. Parameter 2 is estimated to be equal to -0.65 (with standard error being equal to 0.05). a. How much does the demand for product 1 increase if SCI reduces its price by 5%? Describe your answer in percentages. b. How much does the demand for product 2 increase if SCI reduces its price by 5%? Describe your answer in percentages. c. Which one of the above products has a more sensitive demand? Explain your answer in a short paragraph. d. Consider the demand for product 1 (or product 2). Which one of the parameters below is expected to be less than zero: or ? Explain your answer in a short paragraph.