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The first regression shows the result of regressing LGFDHO, the logarithm of annual household expenditure on food eaten at home, on LGEXP, the logarithm of total annual household expenditure, and LGSIZE, the logarithm of the number of persons in the household, using a sample of 868 households in the 1995 Consumer Expenditure Survey. In the second regression, LGFDHOPC, the logarithm of food expenditure per capita (FDHO/SIZE), is regressed on LGEXPPC, the logarithm of total expenditure per capita (EXP/SIZE). In the third regression LGFDHOPC is regressed on LGEXPPC and LGSIZE.
1. Explain why the second model is a restricted version of the first, stating the restriction.
2. Perform an F test of the restriction.
3. Perform a t test of the restriction.
4. Summarize your conclusions from the analysis of the regression results.
Stephen Zehnder, an enterprising engineer, wants to get into business. He is looking at the following two alternatives. He has compiled the cost data for both alternatives as shown in table below. If Stephen wants to have at least a rate of return..
There are six companies in the industry. Assume their sales in the year 2006 are as follows, Determine the concentration ratio in the industry
Nearby College has done a study of college enrollments and has concluded that the number of students in the fall term is give by Q = 5000 - .5T + .1Y + .2Tc Where Q = number of students enrolled full-time, T = tuition charged by Nearby, Y = national..
Plot the corresponding supply curve on the same graph using the following MC / supply function Q = -7909.89 + 79.1P with the same prices.
Plot the Lorenz curve for income after taxes have been levied. Note that the total income will now be less than 100 and so you will have to compute the quintile shares using a new total.
He pays $50 per month in premiums and his deductible is $2,500. If he is involved in an accident that does $2,000 worth of damage to the boat, how much will he have to pay?
cars arrive at carlas muffler shop for repair work at an average of 3 per hour following an exponential distribution.a
Suppose Mendonca is currendy producing 60 pounds of vegetables per period. How much meat is it also producing? assuming that resources are fully utilized?
a person buys a 1000 face value bond 2 years after its issue. he intends to keep it until its maturity date which is 18
Consider each transaction separately,not cumulatively.
As a result of the tax, the equilibrium price increases from $0.20 to $0.22. What fraction of the incidence falls on consumers On firms Suppose the supply elasticity is 0.6. What must the demand elasticity be.
refer to the following matrix, where each entry shows the level of utility attained by group members from following a particular strategy. Cooperate Shirk Cooperate 10,8 5,4 Shirk 6,10 8,7 If there is as..
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