Question 6. Table 2 presents data on the aggregate consumption (Y, in billions of HK dollars)and disposable income X, also in billions of HK dollars) for a developing economy over a 12-yearperiod from 2012 to 2023.Year i Y₁ Xi2012 1 102 1142013 2 106 1182014 3 108 1262015 4 110 1302016 5 122 1362017 6 124 1401282019 8 130 1562018 71482020 9 142 1602021 10 148 1642022 11 150 1702023 12 154 178TABLE 2. Aggregate Consumption (Y) and Disposable Income (X)Answer the following questions:(1) Draw a scatter diagram using the data and visually inspect whether there exists anapproximate linear relationship between Y and X.(2) Determine the simple regression equation for the consumption schedule in Table 2, using«ΣΧΥ - ΣΧ ΣΥto find ₁ and Bo=Y - B₁X to find Bo.nΣX - (ΣΧ.)23₁(3) (Optional) Plot the simple regression line and illustrate the deviations of each Y; fromthe corresponding Y₁.(4) For the aggregate consumption-income observation in Table 2, use the results from (2)to compute(b) s(c) s²₁(5) Use the results from (2) to computer for the estimated consumption regression usingthe following methods:MMAT5330 Econometric Principles and Data Analysis(a) √R²(b) r =(c) r =Σ xiyi√[x²√Σy?where x₁ =B₁ΣXi YiΣyX₁ - X, and y₁ = Yį – Y.(6) Derive the following:(a) Starting with ₁«ΣΧΥ - ΣΧ ΣΥ«ΣX - (ΣΧ.)2derive the equation for ₁ in deviationform for the case where X = Y = 0.(b) Determine the value of Bo=Y-B₁X when X = Y = 0.(c) (Optional) Use the results of (a) and (b) to plot the simple regression line on agraph where the variables are measured as deviations from their respective means.Compare this simple regression line with the simple regression line plotted in (3)on the same graph.<

Let's proceed with each question step by step:(1) To draw a scatter diagram, we plot the data points…

Question 6. Table 2 presents data on the aggregate consumption (Y, in billions of HK dollars) and disposable income X, also in billions of HK dollars) for a developing economy over a 12-year period from 2012 to 2023. Year i Y₁ X₁ 2012 1 102 114 2013 2 106 118 126 2014 3 108 2015 4 110 130 122 136 124 140 128 148 2016 5 2017 6 2018 7 2019 8 130 156 2020 9 142 160 2021 10 148 164 O

Question 6. Table 2 presents data on the aggregate consumption (Y, in billions of HK dollars) and disposable income X, also in billions of HK dollars) for a developing economy over a 12-year period from 2012 to 2023. Year i Y₁ X₁ 2012 1 102 114 2013 2 106 118 126 2014 3 108 2015 4 110 130 122 136 124 140 128 148 2016 5 2017 6 2018 7 2019 8 130 156 2020 9 142 160 2021 10 148 164 O

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section6.8: Fitting Exponential Models To Data

Problem 3TI: Table 6 shows the population, in thousands, of harbor seals in the Wadden Sea over the years 1997 to...

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