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Please see attached question. YOu can send me handwritten answer as well if required. The Demand for housing (Q) depends on house price (P) and
Please see attached question. YOu can send me handwritten answer as well if required.
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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