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The relationship between food expenditure of 25 households (y) and their total expenditures (x) is estimated as follows, In Y = 2.24 + 0.364 In X ' = 0.886 a) Interpret the slope coefficient of the model. b) What is the elasticity of food expenditure with respect to total expenditure?

The relationship between food expenditure of 25 households (y) and their total expenditures (x) is estimated as follows, In Y = 2.24 + 0.364 In X ' = 0.886 a) Interpret the slope coefficient of the model. b) What is the elasticity of food expenditure with respect to total expenditure?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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The relationship between food expenditure of 25 households (y) and their total expenditures (x) is estimated as follows, In Ý = 2.24 +0.364 In X ,' = 0.886 a) Interpret the slope coefficient of the model. b) What is the elasticity of food expenditure with respect to total expenditure?
Transcribed Image Text:The relationship between food expenditure of 25 households (y) and their total expenditures (x) is estimated as follows, In Ý = 2.24 +0.364 In X ,' = 0.886 a) Interpret the slope coefficient of the model. b) What is the elasticity of food expenditure with respect to total expenditure?
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