Question
Date Income Consumption Q1, 2000 31192 28634 Q2, 2000 31438 28837 Q3, 2000 31719 29039 Q4, 2000 31742 29220 Q1, 2001 31940 29276 Q2, 2001
Date Income Consumption Q1, 2000 31192 28634 Q2, 2000 31438 28837 Q3, 2000 31719 29039 Q4, 2000 31742 29220 Q1, 2001 31940 29276 Q2, 2001 31836 29282 Q3, 2001 32504 29313 Q4, 2001 32020 29685 Q1, 2002 32728 29709 Q2, 2002 32821 29795 Q3, 2002 32696 29927 Q4, 2002 32773 30014 Q1, 2003 32796 30084 Q2, 2003 33197 30351 Q3, 2003 33657 30722 Q4, 2003 33713 30887 Q1, 2004 33893 31127 Q2, 2004 34152 31261 Q3, 2004 34247 31481 Q4, 2004 34589 31725 Q1, 2005 34183 31900 Q2, 2005 34380 32178 Q3, 2005 34469 32345 Q4, 2005 34666 32386 Q1, 2006 35380 32677 Q2, 2006 35354 32777 Q3, 2006 35363 32884 Q4, 2006 35734 33134 Q1, 2007 35889 33235 Q2, 2007 35878 33273 Q3, 2007 35880 33335 Q4, 2007 35819 33292 Q1, 2008 35998 33150 Q2, 2008 36677 33134 Q3, 2008 35747 32814 Q4, 2008 35892 32344 Q1, 2009 35752 32167 Q2, 2009 35932 31957 Q3, 2009 35456 32076 Q4, 2009 35328 31999 Q1, 2010 35293 32106 Q2, 2010 35686 32308 Q3, 2010 35791 32451 Q4, 2010 35967 32717 Q1, 2011 36346 32826 Q2, 2011 36228 32836 Q3, 2011 36347 32913 Q4, 2011 36299 32959 Q1, 2012 36832 33104 Q2, 2012 37054 33105 Q3, 2012 36963 33128 Q4, 2012 37860 33156 Q1, 2013 36226 33263 Q2, 2013 36380 33280 Q3, 2013 36522 33370 Q4, 2013 36528 33585 Q1, 2014 36872 33688 Q2, 2014 37289 33946 Q3, 2014 37587 34190 Q4, 2014 37907 34508 Q1, 2015 38033 34659 Q2, 2015 38336 34850 Q3, 2015 38571 35015 Q4, 2015 38785 35147 Q1, 2016 38927 35236 Q2, 2016 39148 35550 Q3, 2016 39354 35743 Q4, 2016 39254 35987
Date | Income | Consumption |
Q1, 2000 | 31192 | 28634 |
Q2, 2000 | 31438 | 28837 |
Q3, 2000 | 31719 | 29039 |
Q4, 2000 | 31742 | 29220 |
Q1, 2001 | 31940 | 29276 |
Q2, 2001 | 31836 | 29282 |
Q3, 2001 | 32504 | 29313 |
Q4, 2001 | 32020 | 29685 |
Q1, 2002 | 32728 | 29709 |
Q2, 2002 | 32821 | 29795 |
Q3, 2002 | 32696 | 29927 |
Q4, 2002 | 32773 | 30014 |
Q1, 2003 | 32796 | 30084 |
Q2, 2003 | 33197 | 30351 |
Q3, 2003 | 33657 | 30722 |
Q4, 2003 | 33713 | 30887 |
Q1, 2004 | 33893 | 31127 |
Q2, 2004 | 34152 | 31261 |
Q3, 2004 | 34247 | 31481 |
Q4, 2004 | 34589 | 31725 |
Q1, 2005 | 34183 | 31900 |
Q2, 2005 | 34380 | 32178 |
Q3, 2005 | 34469 | 32345 |
Q4, 2005 | 34666 | 32386 |
Q1, 2006 | 35380 | 32677 |
Q2, 2006 | 35354 | 32777 |
Q3, 2006 | 35363 | 32884 |
Q4, 2006 | 35734 | 33134 |
Q1, 2007 | 35889 | 33235 |
Q2, 2007 | 35878 | 33273 |
Q3, 2007 | 35880 | 33335 |
Q4, 2007 | 35819 | 33292 |
Q1, 2008 | 35998 | 33150 |
Q2, 2008 | 36677 | 33134 |
Q3, 2008 | 35747 | 32814 |
Q4, 2008 | 35892 | 32344 |
Q1, 2009 | 35752 | 32167 |
Q2, 2009 | 35932 | 31957 |
Q3, 2009 | 35456 | 32076 |
Q4, 2009 | 35328 | 31999 |
Q1, 2010 | 35293 | 32106 |
Q2, 2010 | 35686 | 32308 |
Q3, 2010 | 35791 | 32451 |
Q4, 2010 | 35967 | 32717 |
Q1, 2011 | 36346 | 32826 |
Q2, 2011 | 36228 | 32836 |
Q3, 2011 | 36347 | 32913 |
Q4, 2011 | 36299 | 32959 |
Q1, 2012 | 36832 | 33104 |
Q2, 2012 | 37054 | 33105 |
Q3, 2012 | 36963 | 33128 |
Q4, 2012 | 37860 | 33156 |
Q1, 2013 | 36226 | 33263 |
Q2, 2013 | 36380 | 33280 |
Q3, 2013 | 36522 | 33370 |
Q4, 2013 | 36528 | 33585 |
Q1, 2014 | 36872 | 33688 |
Q2, 2014 | 37289 | 33946 |
Q3, 2014 | 37587 | 34190 |
Q4, 2014 | 37907 | 34508 |
Q1, 2015 | 38033 | 34659 |
Q2, 2015 | 38336 | 34850 |
Q3, 2015 | 38571 | 35015 |
Q4, 2015 | 38785 | 35147 |
Q1, 2016 | 38927 | 35236 |
Q2, 2016 | 39148 | 35550 |
Q3, 2016 | 39354 | 35743 |
Q4, 2016 | 39254 | 35987 |
The consumption function captures one of the key relationships in economic. It expresses consumption as a function of disposal income, where disposal income is income after taxes. The attached file "Regression Assignment - Dataset 1" shows data of average US annual consumption (in $) and disposable income (in $) for the years 2000 to 2016. 1. Find the sample linear regression equation for the model 2. In this model, the slope coefficient is called the marginal propensity to consume. Interpret its meaning 3. What is the predicted consumption if disposal income is $33,000?
When answering this assignment, include a full report that will include an abstract, introduction, theory, results and discussion. conclusions and references.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started