Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 21 Oct 2017 My Price 3.00

consumption function

7.13.      Suppose you estimate the consumption function†

Yi   = α1  + α2 Xi  + u1i

and the savings function

Zi  = β1  + β2 Xi  + u2i

 

 

 

where Y = consumption, Z = savings, X  = income, and X  = Y + Z,  that is, income is equal to consumption plus savings.

a.     What is the relationship, if any, between α2 and β2 ? Show your calculations.

b.     Will the residual sum of squares, RSS, be the same for the two models? Explain.

c.     Can you compare the R2 terms of the two models? Why or why not?

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Maurice Tutor
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Status NEW Posted 21 Oct 2017 09:10 PM My Price 3.00

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