Table 1 gives data on weekly family consumption expenditure (Y) (in dollars) and weekly family income (X) (in dollars) for a population of 60 students. Weekly income (X) Weekly consumption expenditure (Y) 90 120 140 170 190 220 250 270 290 320 55, 60, 65, 70, 75 65, 70, 74, 80, 85, 88 79, 84, 90, 94, 80, 93, 95, 103, 108, 113, 115 102, 107, 110, 116, 118, 125 110, 115, 120, 130, 135, 140 120, 136, 140, 144, 145 135, 137, 140, 152, 157, 160, 162 137, 145, 155, 165, 175, 189 150, 152, 175, 178, 180, 185, 191 98 For each income level, compute the mean consumption expenditure E (Y|X;), that is, the conditional expected value Plot these data in a scattergram with income on the horizontal axis and consumption expenditure on the vertical axis. Plot the conditional means derived in part (a) in the same scattergram created in part (b). а. b. С.

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Chapter1: Making Economics Decisions
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QUESTION 1
Table 1 gives data on weekly family consumption expenditure (Y) (in dollars) and weekly
family income (X) (in dollars) for a population of 60 students.
Weekly income (X)
90
Weekly consumption expenditure (Y)
55, 60, 65, 70,
65, 70, 74, 80, 85, 88
79, 84, 90, 94,
80, 93, 95, 103, 108, 113, 115
102, 107, 110, 116, 118, 125
110, 115, 120, 130, 135, 140
120, 136, 140, 144, 145
135, 137, 140, 152, 157, 160, 162
137, 145, 155, 165, 175, 189
150, 152, 175, 178, 180, 185, 191
75
120
140
98
170
190
220
250
270
290
320
For each income level, compute the mean consumption expenditure E (Y|X;),
that is, the conditional expected value
Plot these data in a scattergram with income on the horizontal axis and
consumption expenditure on the vertical axis.
Plot the conditional means derived in part (a) in the same scattergram
created in part (b).
а.
b.
С.
This is a question for subject Econometrics.
Please show all the step by step calculation
and table / scattergram / diagram. Thank
you in advance.
Transcribed Image Text:QUESTION 1 Table 1 gives data on weekly family consumption expenditure (Y) (in dollars) and weekly family income (X) (in dollars) for a population of 60 students. Weekly income (X) 90 Weekly consumption expenditure (Y) 55, 60, 65, 70, 65, 70, 74, 80, 85, 88 79, 84, 90, 94, 80, 93, 95, 103, 108, 113, 115 102, 107, 110, 116, 118, 125 110, 115, 120, 130, 135, 140 120, 136, 140, 144, 145 135, 137, 140, 152, 157, 160, 162 137, 145, 155, 165, 175, 189 150, 152, 175, 178, 180, 185, 191 75 120 140 98 170 190 220 250 270 290 320 For each income level, compute the mean consumption expenditure E (Y|X;), that is, the conditional expected value Plot these data in a scattergram with income on the horizontal axis and consumption expenditure on the vertical axis. Plot the conditional means derived in part (a) in the same scattergram created in part (b). а. b. С. This is a question for subject Econometrics. Please show all the step by step calculation and table / scattergram / diagram. Thank you in advance.
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