w

The consultancy is now interested in looking at the sales of shoes and pints in different countries. You obtain the data on consumption in England, Wales and Scotland. a. In the dataset "pints and shoes.xlsx" there is a numerical variable called country where 1 is England, 2 is Wales and 3 is Scotland. Calculate the average price and quantity sold of shoes and pints per country. b. Plot the demand curve for pints per country. c. Use the data in "pints and shoes.xlsx", create one dummy variable per country. d. Use the data in "pints and shoes.xlsx" to estimate the parameters of the following model: Si=0+1Pi+2Zi+3Gi+4Ai+ei where Si is sales of shoes per individual, Pi is the average price of shoes paid per individual, Zi is the average price of pints paid per individual Gi is a dummy variable equal to 1 if individual i is a Female and 0 otherwise Ai is a set of dummy variables per country. Introduce the set of country dummy variables in the model in a way in which you could interpret the results respect to England. Determine whether the coefficient 1,2,3,4 are statistically different from zero at the significance levels of 0.01,0.05 and 0.10. Interpret the results. The consultancy is now interested in looking at the sales of shoes and pints in different countries. You obtain the data on consumption in England, Wales and Scotland. a. In the dataset "pints and shoes.xlsx" there is a numerical variable called country where 1 is England, 2 is Wales and 3 is Scotland. Calculate the average price and quantity sold of shoes and pints per country. b. Plot the demand curve for pints per country. c. Use the data in "pints and shoes.xlsx", create one dummy variable per country. d. Use the data in "pints and shoes.xlsx" to estimate the parameters of the following model: Si=0+1Pi+2Zi+3Gi+4Ai+ei where Si is sales of shoes per individual, Pi is the average price of shoes paid per individual, Zi is the average price of pints paid per individual Gi is a dummy variable equal to 1 if individual i is a Female and 0 otherwise Ai is a set of dummy variables per country. Introduce the set of country dummy variables in the model in a way in which you could interpret the results respect to England. Determine whether the coefficient 1,2,3,4 are statistically different from zero at the significance levels of 0.01,0.05 and 0.10. Interpret the results