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Introductory econometrics.
Title: Introductory econometrics.
Category: Business & Economy / Management
Details: Words: 1552 | Pages: 6.6 (approximately 235 words/page)
Introductory econometrics.
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; all …showed first 75 words of 1552 total…
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…showed last 75 words of 1552 total…equation, 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
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