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QUESTION 2 We model energy use per capita of 131 countries in a given year as follows: Lntpes_pc = Bo + Bilnypcpenn + 2Lnypcpenn2 + 83LnGasprice + B4LnAnnualprecip + BsTempColdest + 6TempWarmest + Byffrents + BLnPop + Bg LnLand + D_incomegroups +u The variables are defined as follows: Lntpes_pc = log of total primary energy consumption per capita (ktoe) Lnypcpenn =log of GDP per capita (USD) Lnypcpenn2 = square of log of GDP per capita (USD) Ln_gasprice = log of pump price for gasoline (USD/liter) LnAnnualprecip= log of annual precipitation (mm) Temp_coldest = average temperature for the coldest month in a year (in C) Temp_warmest= average temperature for the warmest month in a year (in C) ffrents = Fossil Fuel Rents (% of GDP) LnPop = log of population (in millions) LnLand = log of land area (in km2) I_Incomegroup = refers to income groups "1", "2" and "3", low, mid and high income countries. *"Log" always refers to natural logs or "In" here. Linear regression Number of obs 131 F (11, 119) 143.13 Prob > F R-squared 11 0. 8941 Root MSE .36402 Robust Intpes_pc Coet. Std. Err. Paltl [95% Conf. Interval] Inypcpenn -.9599562 .4732335 -2.03 0.045 -1.897806 -. 0229066 Inypcpenn2 0954567 .0256192 3.73 0.008 0447282 . 1461852 In_gasprice -. 2392021 0566569 -4.22 0.000 -3513885 -. 1270157 temp_coldest -. 01857 005238 -3.55 0.001 . 0289417 -,0081983 temp_warmest . 0166677 .016009 1.04 0.300 -. 0150318 0483671 In_annualprecip 806395 0539954 0.12 0.906 -. 1005213 1133114 ffrents . 0028204 . 0028546 0.99 0.325 -. 0028319 0084728 Inpop -. 0469675 038338 -1.23 0.223 -. 1228807 0289456 Inland . 0546541 0328958 1.66 0.099 -. 0104828 . 119791 _Iincomegro_2 . 1032733 . 2283648 0.45 0.652 -.3489118 .5554584 _Iincomegro_3 -. 0828519 . 1007342 -0. 82 0.412 -. 2823156 . 1166118 _cons 8.303336 2.40965 3.45 0.001 3.531989 13. 07468 Log referrers to natural logarithm!1) Interpret the constant and its p-value. 2) Interpret the coefficient on gas price and its p-value. 3) Interpret the coefficient on annual precipitation and carry out a t-test to determine the significance of the coefficient. 4) Interpret the coefficient on population and its p-value. 12 marks 5) The above model belongs to the class of nonlinear equations. Calculate the turning point of the nonlinear relationship. 3 marks 6) Is this a U-shaped or inverted U-shaped relationship? 1 marks 7) Analyse the relationship between energy use per capita and GDP pc based on these insights. How does energy use per capita change with GDPpc? Prepare a graph! 4 marks 8) Please define MLR 2 and describe if MLR 2 is likely to hold or not? 3 marks 9) Please define MLR 4 and describe if MLR 4 is likely to hold or not? 3 marks (Total: 26 marks)