50%(2)1 out of 2 people found this document helpful
This preview shows page 1 - 3 out of 4 pages.
6. What is the elasticity of expenditure with respect to income when the household weekly income level is $2,000 in the following model? y�= 80 + 10xwhere y is household food expenditure and x is household weekly income in hundred dollars a.0.071 b. 0.714 c.10 d.200
7. In which case would testing the null hypothesis involve a two tailed statistical test? 8. You estimate a simple linear regression model using a sample of 27 observation and obtain the following results y�= 97.25 + 19.74 x(3.86) (3.42)What are the endpoints of the interval estimator β2with 95% interval estimate? 9.What does R^2, the coefficient of determination, measure?