Problem_Set_4 - Problem Set 4 EEP162-Spring 2007 Due in...

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Problem Set 4 EEP162-Spring 2007 Due in Lecture Monday April 16 1. Use the constructed data set “WaterAgencyData.xls” on residential water use for a number of water agencies. You can download it from the class web page under problem sets. (a) What variables from the data set are of interest for constructing an equation to model residential demand for water? What is your dependent variable, and what are your independent variables? (b) What are the minimum and maximum daily consumption in gallons? How do these numbers compare with the ones in the Gibbons article in your reader? (c) Using EXCEL (or whatever program you prefer), estimate a linear demand equation for water from the data. Attach copies of your regression analysis output. (d) How many of your independent variables are significant at the 95% level. If a variable is not significant, comment on why it might not have a significant influence on water demand. For the remaining part of the question, assume you are the head of a water agency
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This note was uploaded on 08/01/2008 for the course ECON 162 taught by Professor Hanemann during the Spring '07 term at University of California, Berkeley.

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Problem_Set_4 - Problem Set 4 EEP162-Spring 2007 Due in...

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