introductory econometrics (Textile and textile industry) Q1: Present your data in a table giving precise definitions and sources for each variable plus brief footnote on any methods you had to used to construct your variables. QDD (£m)POPN (k)P-PRICE R-PRICE GDP (£m)QTYPCTA RELPRICE INCPCPA DUMMY 514056,330100.066.8229,5830.911.497061.01320 491856,357104.574.8252,2440.841.463959.83720 506856,298110.481.2275,8510.821.453260.34280 543956,328116.484.9301,5240.831.465363.05071 614056,432123.189.2323,0980.881.480964.18651 664856,567129.694.6354,2290.911.473666.19571 678856,699135.497.8380,5970.881.486768.63591 757156,850141.8101.9418,2210.941.481872.19401 793056,970149.3106.9466,5200.931.476176.60311 794257,248156.2115.2511,8890.891.428077.61811 764857,436164.0126.1554,4860.811.380776.55811 738457,472174.5133.5582,9460.741.374575.97851 754457,593180.2138.5606,5820.731.371176.04491 Annual demand for textile and textile industry 1980-1992 QDD: Annual Demand for Good Y (textile and textile industry) POPN: Population P-PRICE: Producer Price for textile and textile industry; …showed first 75 words of 1286 total…

…showed last 75 words of 1286 total…the coefficient also means the elasticity. In the other words, the elasticity of relative price is 1.088, it is greater than 1, it is elastic; the elasticity of real income is -0.202 less than 1, it is inelastic. The sample size is 13, it is not very big, and will affect the accuracy of the estimation. The more data will improve the accuracy. In addition, a large spread of values of explanatory variable improves accuracy of estimation. Regression Regression