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econ346 lab3_solution

# econ346 lab3_solution - ECON346(Econometrics Spring 2011...

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1 ECON346 (Econometrics), Spring 2011 LAB 3: OLS Exercise Suggested Solution Name : ___________________________ UIN :____________________________ Suppose you’ve been hired to determine the best location for the next restaurant, where it charges moderately prices and operates 24 hour. You gathered gross sales (Y), the average household income of the population (X), the number of direct market competitors within a two mile radius (N), the number of people living within a three mile radius (P) from 25 family restaurants. (Use the excel file from Blackboard) Y X N P 107919 13240 3 65044 118866 22554 5 101376 98579 16916 7 124989 122015 20967 2 55249 152827 19576 3 73775 91259 15039 5 48484 123550 21857 8 138809 160931 26435 2 50244 98496 24024 6 104300 108052 14987 2 37852 78000 20058 5 59000 103342 16194 2 39462 127030 21384 5 139900 166755 18800 6 171740 125343 15289 3 149894 200000 16702 3 57386 134594 19093 6 185105 152937 26502 3 114520 109622 18760 3 52933 149884 33242 5 203500 98388 14988 4 39334 140791 18505 3 95120 101260 16839 3 49200 139517 28915 4 113566 115236 19033 9

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econ346 lab3_solution - ECON346(Econometrics Spring 2011...

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