STATS Methods

Acrobat Reader DC ON2026 Final.pdf ECON2026 Final (1... * X T 4 / 4 160% in the following regression: log (TOUR,) = 10.545 - 1.643 log( RPEDS) + 1.412 log (RPSEY() + 0.545 log(YUK.) se: [5.380] [0.360] [0.607] [0.138] log(Tour ) - log(Tour) =1.000 RSS = 0.231 where. TOUR, is the number of quarterly UK tourist arrivals in to Barbados at time log is the natural logarithm RPEDS is the real price of tourism in Barbados . RPSEY is the real price of tourism in Seychelles (another UR tourist destination Yuk is the real personal disposable income of UK tourists Standard errors are in square brackets under each parameter estimate RSS is the residual sum of squares (eror sum of squares) Evaluate the statistical significance of RPEDS, RPsey and It Carefully interpret the results, Be sure to write the null and alternative hypotheses. [10 marks] Can tourism demand be considered price elastic? Explain your answer [3 marks] Can the tourism product in Barbados be considered a normal good Explain your answer. ere to search 13 marksl O acer FZ F3 F4 F5 F6 F8 F9 83- F10 F11 F12 Prtsc