QUESTION 1 Table 1 gives data on weekly family consumption expenditure (Y) (in dollars) and weekly family income (X) (in dollars) for a population of 60 students. Weekly income (X) Weekly consumption expenditure (Y) 90 55, 60, 65, 70, 75 65, 70, 74, 80, 85, 88 79, 84, 90, 94, 80, 93, 95, 103, 108, 113, 115 102, 107, 110, 116, 118, 125 110, 115, 120, 130, 135, 140 120, 136, 140, 144, 145 135, 137, 140, 152, 157, 160, 162 137, 145, 155, 165, 175, 189 150, 152, 175, 178, 180, 185, 191 120 140 98 170 190 220 250 270 290 320 For each income level, compute the mean consumption expenditure E(Y|X;), that is, the conditional expected value Plot these data in a scattergram with income on the horizontal axis and consumption expenditure on the vertical axis. Plot the conditional means derived in part (a) in the same scattergram created in part (b). a. b. с. This is a question for subject Econometrics. Please show all the step by step calculation and table / scattergram / diagram. Thank you in advance.

QUESTION 1 Table 1 gives data on weekly family consumption expenditure (Y) (in dollars) and weekly family income (X) (in dollars) for a population of 60 students. Weekly income (X) Weekly consumption expenditure (Y) 90 55, 60, 65, 70, 75 65, 70, 74, 80, 85, 88 79, 84, 90, 94, 80, 93, 95, 103, 108, 113, 115 102, 107, 110, 116, 118, 125 110, 115, 120, 130, 135, 140 120, 136, 140, 144, 145 135, 137, 140, 152, 157, 160, 162 137, 145, 155, 165, 175, 189 150, 152, 175, 178, 180, 185, 191 120 140 98 170 190 220 250 270 290 320 For each income level, compute the mean consumption expenditure E(Y|X;), that is, the conditional expected value Plot these data in a scattergram with income on the horizontal axis and consumption expenditure on the vertical axis. Plot the conditional means derived in part (a) in the same scattergram created in part (b). a. b. с. This is a question for subject Econometrics. Please show all the step by step calculation and table / scattergram / diagram. Thank you in advance.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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