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33. Award: 10.00 points Problems? Adjust credit for all students. The consumption function is one of the key relationships in economics, where consumption depends on
33. Award: 10.00 points Problems? Adjust credit for all students. The consumption function is one of the key relationships in economics, where consumption" depends on disposable income *. Consider the quarterly data for these seasonally adjusted variables, measured in billions of dollars. A portion of the data is shown in the accompanying table. Date Consumption Disposable Income 2006:01 9, 148.2 9,705.2 2006:01 9.266.6 9.863.8 2010:01 10,525.2 11,514.7 SOURCE: U.S. Department of Commerce. Click here for the Excel Data File a-1. Estimate Consumption = Bp + 81 Disposable Income + 6. (Round your answers to 2 decimal places.) Consumption = 2786.97 : 0.01 + 0.66 + 0.01 Disposable Income Scatterplot of residual against time is shown below. 200 100- Residuals -100 - -200- -300 5 10 15 20 25
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