Estimate the parameters in the model

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(a) Using LAD, estimate the parameters in the following model:

EXPENDi = M1 + M2AGEi + M3OWNRENTi + M4INCOMEi + M5INCOMEi2 + Vi:

(b) Obtain standard errors of your estimates in part (a) using the Wild bootstrap with (B = 9; 999).

(c) Using the bootstrap (with B = 9; 999) test H0 : 2 = 0 vs. H0 : 2 = 0 at the 5% level.

Reference no: EM13125783

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