Question 7 of 15 Assume you want to estimate a model of Canadian exports of oil (Xoil; in barrels), and you have the price of oil (Poil; in $ per barrel), but a demand indicator (Demandi) is not available. Xoil; = Bo + B1 Poil; + B2 Demand; + Uj Suggest a proxy variable to replace Demandi, and explain the reasoning behind your choice. Maximum number of characters (including HTML tags added by text editor): 32,000 Show Rich-Text Editor (and character count) Question 7 of 15 Assume you want to estimate a model of Canadian exports of oil (Xoil; in barrels), and you have the price of oil (Poil; in $ per barrel), but a demand indicator (Demandi) is not available. Xoil; = Bo + B1 Poil; + B2 Demand; + Uj Suggest a proxy variable to replace Demandi, and explain the reasoning behind your choice. Maximum number of characters (including HTML tags added by text editor): 32,000 Show Rich-Text Editor (and character count)