00 spring 2017 2 Considder the following regression equation for the United Satsndand emors hPper capita...
4. Question 4: Consider the following equation for U.S. per capita consumption of beef: CB--330.3+ 49.1InY, 0.34 PB,+0.33 PRP 15.4 D (se 7.4 t-6.6) (se-0.13 -2.6) (se-0.12 t-2.7) (se-4.1 -3.7) RP = 0.7 N 28 DW = 0.94 where CB. the annual per capita pounds of beef consumed in the U.S. in year t, In Yǐ : the log of per capita disposable real income in the U.S. in year t, PBt Ξ , PRI average annualized real wholesale price...
Econometrics Midterm Exam First Name: uskals Last Name: Sunculk ReddySIN: Grade: Two of the most important econometric concepts to date have been the stochastic error term and the residual. Carefully distinguish between these two concepts, being sure to: (a) Define both terms. (b) State how they are similar. (c) State how they are different. (d) Give an example of an equation that contains a stochastic error term. (e) Give an example of an equation that contains a residual. Consider the...