In a study of the relationship between real aggregate consumption and prices in a specific country based on a time series of 104 observations, the following OLS regression function was obtained (standard errors in parentheses), C₂ = 13.74 +0.24Pt, R² = 0.12, SER = 2.85, (0.35) (0.05) where C, is logarithm of consumption and P, is logarithm of price. Comment on the sign of the coefficient on Pt.
In a study of the relationship between real aggregate consumption and prices in a specific country based on a time series of 104 observations, the following OLS regression function was obtained (standard errors in parentheses), C₂ = 13.74 +0.24Pt, R² = 0.12, SER = 2.85, (0.35) (0.05) where C, is logarithm of consumption and P, is logarithm of price. Comment on the sign of the coefficient on Pt.
Chapter6: Exponential And Logarithmic Functions
Section6.8: Fitting Exponential Models To Data
Problem 1TI: Table 2 shows a recent graduate’s credit card balance each month after graduation. a. Use...
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