Hi,

Can someone help me with these questions?

\fYou are given data per-capita consumption of chicken in US for 1960-1982. Demand for Chickens, United States, 1960-1982 Y Per Capita Consumption of Chickens, Pounds X1 Real Disposable Income Per Capita, $ X2 Real Retail Price of Chicken Per Pound, Cents a) Estimate an econometric model Y = Bol + 81Xit + 821X2: + un, and perform the RESET test (number of fitted terms = 1). Use 5% significance level. b) Propose an alternative model to the model given in (a) and redo the RESET test (number of fitted terms = 1). Use 5% significance level. c) Test whether there is structural change in the demand for chicken after 1976 using the Chow test on the model proposed in (b). Then, redo the parameter stability test using dummy variable approach. Use 5% significance level. d) Do you think the proposed model in (b) suffers from the problem of multicollinearity? Explain