Q4) We are trying to analyse the money spent for entertainment (ENT) in Turkey. Suppose we define: gender (G) as male or female; nationality (N) as Turkish or foreign; and marital status (M) as single, married and divorced. We also have: The disposable income (Y); and Price elasticity of entertainment demand of an individuals (P;) (i.e. perfectly inelastic demand (0) perfectly elastic demand ().) (Note: Begin with defining dummies. Realize that you should have two dummies for the marital status as Mi and Mi. Then, set up the regression considering what is asked in the question.) Using dummy variable, set up the following regressions and write the expected values: i) ii) iii) iv) v) vi) vii) A researcher wants to observe gender difference on money spent for entertainment. A researcher wants to observe marital status difference on money spent for entertainment. A researcher wants to observe both gender and nationality difference (i.e. foreign- female) on money spent for entertainment. A researcher believes that gender does not affect income and wants to observe income's and gender difference's effect on money spent for entertainment. A researcher realizes that gender in fact have effect on income and wants to test set up regression considering this enlightenment. A researcher now wants to include different price elasticities of genders to part (v) In his/her final act, a researcher wants to estimate the money spent on entertainment using income considering that both gender and nationality affects income.