We have a time series dataset from the US which includes the following variables for the period 1960- 1999: Y: Per capita chicken consumption (in pounds) in year t. PC: The price of chicken (in cents per pound) in year t. PB: The price of beef (in cents per pound) in year t. YD: Per capita disposable income (in hundreds of dollars) in year t. YD2: YDsquared, i.e. YD2, = YD² We estimate by OLS the following regression . Dependent variable: Y Number of observations: 40 Variable intercept PC PB YD YD2 R-squared F statistic (p-value) model: Table 2 Coefficient 27.6 -0.61 0.09 0.20 -0.0001 0.99 8.74 (0.006) Standard Error 1.58 0.16 0.04 0.01 0.00005

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