Given the following regression: CONS = 1218 + 0.97 INC + u (A) What is the predicted
Question:
Given the following regression: CONS = −1218 + 0.97 INC + u
(A) What is the predicted value of CONS in 1960 given INC =
$9,735 in 1960?
(B) Actual CONS in 1960 equals $8,837. Give several reasons why the forecast may be off from the actual.
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Related Book For 
Essential Econometric Techniques A Guide To Concepts And Applications
ISBN: 9781032101217,9781000538588
3rd Edition
Authors: Elia Kacapyr
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