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What quantity of gold will trade on a daily basis

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Reference no: EM13975597

Gold Tracker monitors the price of precious metals and has daily data on prices and sales of gold for the past several years. They estimated the following relationship (250 observations):

Q=4,000-0.01P+1.5I-1.25X+2.0S R^2=.96
Q=daily sale of gold in ounces, P=price of gold per ounce, I= most recent inflation report (in percent), X= index of exchange rate, S is market price of silver per ounce. Standard errors are 857 for 4,000; 0.002 for 0.01P; 0.65 for 1.5I; 0.44 for 1.25X; 0.48 for 2.0S

A. Evaluate the results of this regression.

B. Recently, the price of gold has been $380 per ounce, inflation 0.2%, dollar trading at 99.7 on index, silver is $4.75 per ounce. What quantity of gold will trade on a daily basis?

C. Are gold and silver substitutes or compliments?

Reference no: EM13975597

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