Using the data on consumption expenditure Y, Income X2, and wealth X3, following output is generated: Dependent Variable: Y Method: Least Squares Date: 11/22/21 Time: 11:44 Sample: 1 10 Included...

Using the data on consumption expenditure Y, Income X2, and wealth X3, following output is<br>generated:<br>Dependent Variable: Y<br>Method: Least Squares<br>Date: 11/22/21 Time: 11:44<br>Sample: 1 10<br>Included observations: 10<br>Variable<br>Coefficient<br>Std. Error<br>t-Statistic<br>Prob.<br>X2<br>0.941537<br>0.822898<br>1.144172<br>0.2902<br>X3<br>-0.042435<br>0.080664<br>-0.526062<br>0.6151<br>24.77473<br>6.752500<br>3.668972<br>0.0080<br>Mean dependent var<br>S.D. dependent var<br>R-squared<br>0.963504<br>111.0000<br>Adjusted R-squared<br>0.953077<br>31.42893<br>S.E. of regression<br>6.808041<br>Akaike info criterion<br>6.917411<br>Sum squared resid<br>Log likelihood<br>324.4459<br>Schwarz criterion<br>7.008186<br>-31.58705<br>Hannan-Quinn criter.<br>6.817830<br>F-statistic<br>92.40196<br>Durbin-Watson stat<br>2.890614<br>Prob(F-statistic)<br>0.000009<br>a) State the estimated OLS regression. Identify the slope coefficients that may not be<br>significant and provide justifications for your answer.<br>b) Specify and interpret the value of R² for the regression.<br>

Extracted text: Using the data on consumption expenditure Y, Income X2, and wealth X3, following output is generated: Dependent Variable: Y Method: Least Squares Date: 11/22/21 Time: 11:44 Sample: 1 10 Included observations: 10 Variable Coefficient Std. Error t-Statistic Prob. X2 0.941537 0.822898 1.144172 0.2902 X3 -0.042435 0.080664 -0.526062 0.6151 24.77473 6.752500 3.668972 0.0080 Mean dependent var S.D. dependent var R-squared 0.963504 111.0000 Adjusted R-squared 0.953077 31.42893 S.E. of regression 6.808041 Akaike info criterion 6.917411 Sum squared resid Log likelihood 324.4459 Schwarz criterion 7.008186 -31.58705 Hannan-Quinn criter. 6.817830 F-statistic 92.40196 Durbin-Watson stat 2.890614 Prob(F-statistic) 0.000009 a) State the estimated OLS regression. Identify the slope coefficients that may not be significant and provide justifications for your answer. b) Specify and interpret the value of R² for the regression.

Jun 10, 2022

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Using the data on consumption expenditure Y, Income X2, and wealth X3, following output is generated: Dependent Variable: Y Method: Least Squares Date: 11/22/21 Time: 11:44 Sample: 1 10 Included...

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