Economic Report Analysis

Assignment Requirements

 

Please follow all requirements, use report format do that

Need to analysis all question using report format, maximum 4 pages for that

 

You need to copy and paste relevant

output from Gretl onto a word document to accompany your analysis. However,

inclusion of irrelevant output will lead to deduction of marks. Your report should be

neatly set out and provide clear answers to the assignment questions. For the final

question you need to convince the marker that your choice is valid so you should use

results from previous questions to support your choice of a preferred model.

 

 

The data tuna.gdt contains 52 observations. This data file is on the weekly sales of a

major brand of canned tuna by a supermarket chain in a large midwestern U.S. city

during a mid-1990s calendar year. The variables listed in the file are:

SB1= Unit sales of brand 1 canned tuna

PB1= Average price per can of brand 1 canned tuna ($)

PB2= Average price per can of brand 2 canned tuna ($)

PB3= Average price per can of brand 3 canned tuna ($)

 

 

(4 Marks) Multiply the observation in each of the variables, PB1, PB2 and PB3 by 100 to express them in terms of cents and call the new variables PB1C, PB2C and PB3C, respectively. (To make a new variable in Gretl select ‘Add’ ‘define new variables’ and type in the box as ‘PB1C=PB1*100’ then click ‘OK’. Repeat the same steps to make the other two variables, PB2C and PB3C and type as follows. (PB2C=PB2*100, PB3C=PB3*100). Estimate the following regression model and report the results. Interpret the estimates of α2, α3 and α4?

 

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