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  • BEC 6018 Seminar-2 (Week 3) 1. Apply The Following Tasks To Data Food - wf1

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    Tom Merrick
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    This document provides instructions to analyze the relationship between food expenditure and weekly income using data from the file "food.wf1". The tasks include opening the file, examining descriptive statistics, plotting expenditure and the relationship with income, estimating a simple regression model and interpreting the results, computing income elasticity, analyzing residuals, and forecasting expenditures at different income levels. It also asks about the Ordinary Least Squares estimator and its Best Linear Unbiased Estimation property.

    Original Description:

    Least square regression testing

    Original Title

    IAE Seminar 2

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    This document provides instructions to analyze the relationship between food expenditure and weekly income using data from the file "food.wf1". The tasks include opening the file, examining descriptive statistics, plotting expenditure and the relationship with income, estimating a simple regression model and interpreting the results, computing income elasticity, analyzing residuals, and forecasting expenditures at different income levels. It also asks about the Ordinary Least Squares estimator and its Best Linear Unbiased Estimation property.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    6 views1 page

    BEC 6018 Seminar-2 (Week 3) 1. Apply The Following Tasks To Data Food - wf1

    Uploaded by

    Tom Merrick
    This document provides instructions to analyze the relationship between food expenditure and weekly income using data from the file "food.wf1". The tasks include opening the file, examining descriptive statistics, plotting expenditure and the relationship with income, estimating a simple regression model and interpreting the results, computing income elasticity, analyzing residuals, and forecasting expenditures at different income levels. It also asks about the Ordinary Least Squares estimator and its Best Linear Unbiased Estimation property.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    BEC 6018 Seminar-2 (Week 3)

    1. Apply the following tasks to data food.wf1:


    a. Open the work file
    b. Examine the data by providing the descriptive
    statistics
    c. Plot the food expenditure data, save the graph
    in the workfile (name as graph1) and copy the
    graph to a document (MS word)
    d. plot the relationship between food expenditure
    (y- axis) and weekly income (x-axis), save the
    graph in the workfile (name as graph 2) and
    copy the graph to a document (MS word)
    e. Estimate the simple regression with food
    expenditure as the independent variable and
    weekly income as dependent variable,
    interpret the coefficients and write out the
    fitted equation.
    f. Compute the income elasticity.
    g. What are the residuals? Collect the residuals
    from the regression and plot the residuals.
    What is the mean of your residual and what is
    the residual sum squares?
    h. Forecast food expenditure when income equals
    to 20, 25 and 30 respectively.

    2. What is Ordinary Least Square Estimator?


    What is the BLUE property of Least Square
    Estimator?

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