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If it is too many questions, you can answer atleast first 2 (a and b) 4) The Demand for housing (Q) depends on house price
If it is too many questions, you can answer atleast first 2 (a and b)
4) The Demand for housing (Q) depends on house price (P) and income (/). Based on a sample of 2,142 families the least squares regression results are: In Q = 3.9 - 0.256 In P + 0.97 In / t statistic: (6.83) (-15.42) (32.84), R2 = 0.871. (4.a) Calculate adjusted R2. (4.b) Calculate partial correlation coefficient for In P and In / . (4.c) What are the consequences of deleting In P? (4.d) Explain consequences of adding an irrelevant variableStep by Step Solution
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