317Exam2-F09

317Exam2-F09 - Examination #2 Sonoma State University...

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Examination #2 Sonoma State University Dr. Cuellar Economics 317- Introduction to Econometrics Fall 2009 Answer all questions completely. Absolutely no colluding with classmates on the examination . You can use any and all animate and inanimate resources available except for fellow Econ.317 classmates. Any answers deemed suspiciously similar will be given a zero. Your typed answers are due at the beginning of class on Wednesday, November 18. Late examinations will not be accepted. In the article, The Sideways Effect: A Test for Changes in the Demand for Merlot and Pinot Noir Wines , by Cuellar et al, which is forthcoming in the Journal of Wine Economics (December 2009) and was featured in Wines and Vines (January 2009), the authors examine the effect of the movie Sideways on the demand for wine. In the movie, Merlot is denigrated while Pinot Noir is praised. Thus, Cuellar et al test whether the movie Sideways caused an increase in demand for Pinot Noir and a decrease in demand for Merlot. Economic theory postulates that changes in demand should be reflected in changes in price, quantity or both. The data set Sideways.dta contains information on retail sales of individual bottles of Merlot, Pinot Noir and Cabernet Sauvignon from 1999-2008. Use the data Sideways.dta to answer the following questions. (1)
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This note was uploaded on 03/08/2011 for the course ECON 304 taught by Professor Eyler during the Spring '07 term at Sonoma.

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317Exam2-F09 - Examination #2 Sonoma State University...

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