QUESTION 2 (10 Marks) An agricultural economists believes that the amount of beef consumed (Y) in tons in a year depends on the average price of beef (X1) in RM per kilo, the average price of fish (X2) in RM per kilo, the average price of chicken (X3) in RM per kilo and income per household per year (X4) in RM(000). Based on 30 annual observations, the following regression results were obtained. Y=-0.024 0.529X +0.217 X+ 0.193X, +0.416X4 R-squared = 0.68 a) How would you interpret the coefficients of X: X2, X3 and X? (2 marks) b) Is there an evidence of multicollinearity in the model? (2 marks) c) Estimate the amount of beef consumed if the average price of beef is RM10 per kilo, average price of fish is RM8 per kilo, the average price of chicken is RM5.50 per kilo and income per household is RM36000 per year. (2 marks) d) If the above model is transformed to a log model, how would you interpret the coefficients of X1 X2, X and X? (2 marks) e) Find 95% confidence interval for Xs. (2 marks)