Exam 3 2009 wages regressions

Exam 3 2009 wages regressions - Exam 3 Resource Economics...

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Exam 3 Resource Economics 312 Introductory Econometrics Please complete all questions on this exam. The data in the Minitab Project: Exam 32009 Gas Demand.MPJ are to be used for all analyses. These data are a sample of US gasoline demand statistics for the period 1976 – 2006. The variable definitions are as follows: QGas is the US demand for gasoline in million barrels; PGas is the real price of gasoline in $/gallon; (real variables have been adjusted for inflation) GDP is the real US Gross Domestic Product, a measure of income; MPG is the average US fuel efficiency of new cars; PNew is a price index for new cars; PUsed is a price index for used cars. Immediately save your Minitab Project in the DropBox as: lastname-Exam3.MPJ. (5) 1. Provide descriptive statistics for the variables QGas, PGas and MPG. (Include only the number of observations (non-missing), mean, standard deviation and 5-Number Summary.) (5) 2. Determine correlation coefficients for the variables: QGas, PGas, GDP, MPG, PNew and PUsed . (4) 3. Which two variables are most highly correlated? Do you have any concerns about these data?
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Exam 3 2009 wages regressions - Exam 3 Resource Economics...

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