Required information Problem 08-25 Excel Exercise Parts 1 and 2 Skip to question As a newly hired manager at your firm, you decide to start your tenure by assessing the sensibility of your current advertising expenditure. To do this, you ask your analytics team to collect useful data on the quantity of your product sold, the price, and advertising (in thousands) across a range of markets where your product is sold. Problem 08-25 - Excel Exercise Part 1 of 2 Instruction: Download the spreadsheet below and use it to answer the following questions on the Problem tab using Excel formulas. Check the Setup tab of the spreadsheet for any additional information, if provided. Required: 1. Determine the advertising elasticity of demand and the own-price elasticity of demand. (Hint: Recall what a log-log regression provides in terms of estimates.) 2. Using your elasticities from part 1, what is the profit-maximizing advertising-to-sales ratio for your product