QUESTION 1 Table 1 gives data on weekly family consumption expenditure (Y) (in dollars) and weekly family income (X) (in dollars) for a population of 60 students. Weekly income (X) 90 120 140 170 190 220 Weekly consumption expenditure (Y) 55, 60, 65, 70, 75 65, 70, 74, 80, 85, 88 79, 84, 90, 94, 98 80, 93, 95, 103, 108, 113, 115 102, 107, 110, 116, 118, 125 110, 115, 120, 130, 135, 140 120, 136, 140, 144, 145 250
QUESTION 1 Table 1 gives data on weekly family consumption expenditure (Y) (in dollars) and weekly family income (X) (in dollars) for a population of 60 students. Weekly income (X) 90 120 140 170 190 220 Weekly consumption expenditure (Y) 55, 60, 65, 70, 75 65, 70, 74, 80, 85, 88 79, 84, 90, 94, 98 80, 93, 95, 103, 108, 113, 115 102, 107, 110, 116, 118, 125 110, 115, 120, 130, 135, 140 120, 136, 140, 144, 145 250
Chapter6: Exponential And Logarithmic Functions
Section6.8: Fitting Exponential Models To Data
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Transcribed Image Text:QUESTION 1
Table 1 gives data on weekly family consumption expenditure (Y) (in dollars) and weekly
family income (X) (in dollars) for a population of 60 students.
Weekly income (X)
90
Weekly consumption expenditure (Y)
55, 60, 65, 70,
65, 70, 74, 80, 85, 88
79, 84, 90, 94,
80, 93, 95, 103, 108, 113, 115
102, 107, 110, 116, 118, 125
110, 115, 120, 130, 135, 140
120, 136, 140, 144, 145
135, 137, 140, 152, 157, 160, 162
137, 145, 155, 165, 175, 189
150, 152, 175, 178, 180, 185, 191
75
120
140
98
170
190
220
250
270
290
320
For each income level, compute the mean consumption expenditure E (Y|X;),
that is, the conditional expected value
Plot these data in a scattergram with income on the horizontal axis and
consumption expenditure on the vertical axis.
Plot the conditional means derived in part (a) in the same scattergram
created in part (b).
а.
b.
С.
This is a question for subject Econometrics.
Please show all the step by step calculation
and table / scattergram / diagram. Thank
you in advance.
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