The amount of gas used by a typical household in a week (Q, in litres) is found to have a strong correlation with the price of gas (P, in $). For 6 observations, the following data was collected: Q P...

The amount of gas used by a typical household in a week (Q, in litres) is found to have a strong
correlation with the price of gas (P, in $). For 6 observations, the following data was collected:
Q        P
11.4    4.00
14      3.50
16      3.00
18      2.50
20      2.00
(a) Create a regression relationship for this data
(b) Perform a hypothesis test to determine whether the slope coefficient obtained in part (a) above is statistically significant
(c) Use the regression equation in part (a) above to predict the quantity of gas used by a household when the price is $3.75 per litre
(d) Calculate the price elasticity of demand for gas at a price of $3.75
(e) Using a further calculation, discuss how well the regression equation in part (a) above fits the data