Q-2: Consider estimating the demand for chicken per capita (Y, in pounds). Using annual data of 30 years, Studenmund (2001) estimated the following demand function (Standard errors are reported below the coefficients). Y = 30.67 -0.086 PC + 0.25 YD (1) SE (0.031) (0.0054) SSE = 83.2188, R-0.9905 Here PC is the price of chicken (cents per pound) and YD is disposable income in hundreds of dollars. a) Do these coefficients have expected signs according to economic theory? Interpret the coefficient of disposable income (YD). b) To provide some idea of misspecification, the researcher also estimates the following model by augmenting fitted values fitted values f from eq (1): = -3.30 + 0.198 PC - 0.47 YD + 0.0468 Yf2 -0.0002 Yf3 (2) SE (0.149) (0.346) (0.021) (0.00001) SSE = 57.746, R2=0.993 Use RESET test to test (at 5% level) for any specification error of the model in eq (1)