using an econometric model (regression analysis) and a separate forecasting technique (such as moving average or exponential smoothing) for sales forecast. Results of the regression analysis must include:a) An executive summary of the outcomes.b) Information supporting the choice of the variables, including the socio-economic variables (i.e., justification for model specification).c) Detail concerning the model development and data acquired.d) Estimation of the regression model.e) Test for statistical significance of estimated coefficientsf) Interpretation of the results with implications to business policy, andg) Estimation and interpretation of the elasticities and the implication to pricing strategy. Paper format: 12-point font size, double-spaced. Page limit: a maximum of five pages for the main body of the project. The page limit excludes tables and graphs, the front page and the reference page.