Data below shows Siakap development budget outlays, 2000 to 2016. In order to explain this nation development budget, you are asked to consider the following model;

Df_t = a0 + a1Pf_t + a2Po_t + a3Y_t

Where:

Df_t = demand for fish

Pf_t = price of fish

Po_t = price of competitor

Y_t = average income

Year	Dft	Pft	Pot	Yt
2000	52.2	570.4	0.7	17
2001	53.4	600.6	1.0	17.5
2002	54.7	643.5	1.2	17.8
2003	50.5	695.0	1.5	18.0
2004	57.9	750.5	1.7	21.2
2005	71.2	803.0	1.1	24.5
2006	81.6	876.6	0.9	26.7
2007	82.3	942.5	1.6	25.7
2008	81.4	1003.8	1.1	24.9
2009	78.8	1088.7	1.6	22.8
2010	79.4	1285.0	3.0	22.6
2011	75.6	1437.5	4.9	25.4
2012	78.9	1545.3	11.4	27.9
2013	86.7	1650.3	17.0	30.0
2014	90.5	1829.0	15.8	31.5
2015	98.6	2018.4	9.4	34.3
2016	106.3	2274.0	12.0	39.0

1. Using the E-VIEWS / SPSS package, estimate demand as a linear function of Pf_t, Po_t and Y_t. Write the equation, t-statistics, and Coefficient of determination and standard error of estimation.
2. Using the result, which independent variable is significant at 5% significant value in explaining the dependent variable.
3. What can you say about the coefficient of determination?
4. Calculate the price, income and cross elasticity of demand in year 2011 and interpret the result.
5. Calculate the ranges of quantity of demand for year 2008 at 95% confidence interval.