The real income suddenly drops by one dollar. What is the expected effect on monthly consumption?

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Topic Video
Question

The real income suddenly drops by one dollar. What is the expected effect on monthly consumption?

Question 1
SUMMARY OUTPUT
Regression Statistics
Multiple R
R Square
Adjusted R
Square
Standard
0.999666
0.999333
0.999307
Error
Observations
39.51247
54
ANOVA
Significance
F
Df
S
MS
F
Regression
Residual
2 1.19E+08 59656970 38211.39
1.03E-81
51
79622.99
1561.235
Total
53
1.19E+08
Standard
Upper
95%
Lower
95.0%
Upper
95.0%
Coefficients
Error
t Stat
P-value
Lower 95%
15.44438
Intercept
Reall income
Real Wealth
-9.71491
12.53213
-0.7752 0.441801
-34.8742 15.44438
-34.8742
0.726461
0.01399
51.92536
7.96E-46
0.698374 0.754548
0.698374 0.754548
0.036411
0.002589
14.06532
3.48E-19
0.031214 0.041608 0.031214 0.041608
Transcribed Image Text:Question 1 SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square Standard 0.999666 0.999333 0.999307 Error Observations 39.51247 54 ANOVA Significance F Df S MS F Regression Residual 2 1.19E+08 59656970 38211.39 1.03E-81 51 79622.99 1561.235 Total 53 1.19E+08 Standard Upper 95% Lower 95.0% Upper 95.0% Coefficients Error t Stat P-value Lower 95% 15.44438 Intercept Reall income Real Wealth -9.71491 12.53213 -0.7752 0.441801 -34.8742 15.44438 -34.8742 0.726461 0.01399 51.92536 7.96E-46 0.698374 0.754548 0.698374 0.754548 0.036411 0.002589 14.06532 3.48E-19 0.031214 0.041608 0.031214 0.041608
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Discrete Probability Distributions
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman