Question

# In Example 5.31 we considered data on gasoline consumption (GC), price of gasoline (PG), and real income (RI) over

the years 1970-99. In all tests below use a significance level of 5%.

a. Estimate the model GCi = α + βPGi + γRIMi + εi , using the data over the period 1970-95.

c. Perform a test for heteroskedasticity over this period.

d. Perform a test for serial correlation over this period.

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