American Water Works Association Data Section-April 4-6 2007 This computer exercise relies on the data set from the American Water Works Association. As Professor Hanemann mentioned several times in class, most of the time researchers do not have very good data available to estimate a demand function. The goal of this exercise therefore is to let you estimate a demand function with real world data, and to show you what problems you might run into. In some cases there is not one right answer to the question, as the question is meant to point to some of the data decisions you will have to make in reality. To get started please download the data set: (a) http://are.berkeley.edu/courses/EEP162/spring2007/probsets.html (b) Right-click on the EXCEL file “AmericanWaterWorksData” and choose “save as”. Remember where you save the file. (c) Start EXCEL and load the data set “AmericanWaterWorksData”. Now you are ready to answer the following questions.
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