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  3. a bivariate regression of the form y i ...

Question: a bivariate regression of the form y i ...

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Model 2: OLS, using observations 1965-2000 (T 36) Dependent variable: C coefficient std. error t-ratio p-value 4.851 2.68e-05 xx 4.17e-40 const 252.253 51.9974 Yd 0.959305 0.0121514 78.95 Mean dependent var 3672.531 S.D. dependent var 1223.338 Sum squared resid R-squared F(1, 34) Log-likelihood Schwarz criterion432.3907 Hannan-Quinn rho 284193.3 S.E. of regression 91.42552 0.994574Adjusted R-squared 0.994415 6232.511 P-value (F) 212.6118 Akaike criterion 4.17e-40 429.2236 430.3290 0.280555 0.999288 Durbin-Watson

a bivariate regression of the form:

Y i = β o1X i + u i

What economic meaning, if any, does the coefficient β1 have in your model? What does the estimated value of this parameter indicate about the relationship between X and Y?

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