Problem
1. Describe the process of demand estimation by the regression method from the beginning to the end and specify what it needs to be a reliable method of estimation.
2. What are the major problems that may arise in the execution of the regression method? Explain how they are checked, their effects on the results and their interpretation, and how they are corrected.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.