! QUESTION 1Table 1 gives data on weekly family consumption expenditure (Y) (in dollars) and weeklyfamily income (X) (in dollars) for a population of 60 students.Weekly income (X)90Weekly consumption expenditure (Y)55, 60, 65, 70,65, 70, 74, 80, 85, 8879, 84, 90, 94,80, 93, 95, 103, 108, 113, 115102, 107, 110, 116, 118, 125110, 115, 120, 130, 135, 140120, 136, 140, 144, 145135, 137, 140, 152, 157, 160, 162137, 145, 155, 165, 175, 189150, 152, 175, 178, 180, 185, 1917512014098170190220250270290320For each income level, compute the mean consumption expenditure E (Y|X;),that is, the conditional expected valuePlot these data in a scattergram with income on the horizontal axis andconsumption expenditure on the vertical axis.Plot the conditional means derived in part (a) in the same scattergramcreated in part (b).а.b.С.This is a question for subject Econometrics.Please show all the step by step calculationand table / scattergram / diagram. Thankyou in advance.

Answered: QUESTION 1 Table 1 gives data on weekly…

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter4: Equations Of Linear Functions

Section4.5: Correlation And Causation

Problem 2AGP

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