O. In 2010 consumption (Ci) for selected countries was as follows Jordan 2.5 billion $, USA 100 billion $, Canada 50 billion $, France 40 billion $ Qatar 10 billion $.and Russia 70 billion $. for the same year income (Yi) was: Jordan 12 billion $, USA 900 billion $. Canada 700 billion $, France 500 billion $ Qatar 60 billion $.and Russia 100 billion $. if we want to estimate the following model Ci=B1+B2YI+Ui the meaning of intercept = the average value of Yi in billion $ when Xi= 0 billion$ the average value of Yi in billion $ when average Xi= 1 billion$ the value of Yi in billion $ when Xi= 1 billion$ the value of Yi in billion $ when average Xi- 0 billion$

O. In 2010 consumption (Ci) for selected countries was as follows Jordan 2.5 billion $, USA 100 billion $, Canada 50 billion $, France 40 billion $ Qatar 10 billion $.and Russia 70 billion $. for the same year income (Yi) was: Jordan 12 billion $, USA 900 billion $. Canada 700 billion $, France 500 billion $ Qatar 60 billion $.and Russia 100 billion $. if we want to estimate the following model Ci=B1+B2YI+Ui the meaning of intercept = the average value of Yi in billion $ when Xi= 0 billion$ the average value of Yi in billion $ when average Xi= 1 billion$ the value of Yi in billion $ when Xi= 1 billion$ the value of Yi in billion $ when average Xi- 0 billion$

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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am. 101.
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