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(a) Describe all tests that you need to undertake prior to working with time series data.
(b) Consider the following regression result:
Standard Errors: (6.7525) (0.8229) (0.0807)
R-squared = 0.9835; R-bar square = 0.9631 df = 7 F-ratio= 102.40
where Y denotes consumption (in rupees); X1t denotes income (in rupees) and X2t denotes income to the square.
(i) What is the problem with this regression? Explain in details.
(ii) With reference to your answer to the above, how would you detect such problem?
(iii) A researcher wants to model the demand for Nokia mobiles in Mauritius. If you were the researcher, clearly provide a model type along with the expected signs for each of the variables you considered.
Suppose that the aggregate demand curve in a particular year is given by the algebraic expression: Y = 3000 + 1000/P, where Y is the aggregate output and P is t
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Which of the following is an example of derived demand?
various functions of money
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The following regression was estimated to explain the inflation rate in the USA. The data set contains annual observations from 1970 to 2010. Inft = 2500 + 50*Xt +
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A firm manufactures and sells a product that has the following demand function: Q = 180 - 4P where P is price, Q is quantity. It also faces the following
question number one
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