The data file London.csv is a set of observations on 1519 households drawn from the British Family Expenditure Surveys. The data have been selected to include only households with one or two children living in Greater London. Self-employed and retired households were excluded. The data and variable definitions.
Data file: London.csv (please see learnjcu’s subject site- Assessment)
Variable definition:
|
Food_exp |
= |
share of food expenditure |
|
Trans_exp |
= |
share of transport expenditure |
|
Tot_exp |
= |
total household expenditure |
|
age |
= |
age of household head |
|
nk |
= |
number of children |
Data source: The data were used by Richard Blundell, Alan Duncan and Krishna Pendakur, "Semiparametric Estimation and Consumer Demand", Journal of Applied Econometrics, Vol. 13, No. 5, 1998, pp. 435-462.
Use the data to estimate the following models and report the expenditure behavior on food and transport of the residence of Greater London.
Food_exp = b1 + b2 ln(Tot_exp) + b3Trans_exp + b4nk + b5 Age + +e1
Trans_exp = g1 + g 2 ln(Tot_exp) + g 3Food_exp + g 4nk + b5Age + e2
where ln(.) is the natural the logarithm of the argument and e1 and e2 are random error terms to be estimated form the data to evaluate the properties of the estimates of the models. Estimate the model (1) and (2). Report the results on the household food consumption and transport expenditure shares of the residence of Greater London.
NOTE 1. In your report and discussion, please comment on how the explanatory variable influences the household share of food and transport expenditure. Apply the data for estimation and inference of the models. Comment on the model adequacy issues, sign, the statistical and economic significance of the regressors, and goodness-of fittest of the models. Test an appropriate economic hypothesis statistically to establish whether food and transport are necessities for the survey data and comment on your findings.
NOTE 2. Please note that the report should not exceed 10 pages (one-sided double-line spacing with indentation zero both on the left and right margins
Note 3. You can use STATA, R or SHAZAM for empirical computational purposes.
CS 340 Milestone One Guidelines and Rubric Overview: For this assignment, you will implement the fundamental operations of create, read, update,
Retail Transaction Programming Project Project Requirements: Develop a program to emulate a purchase transaction at a retail store. This
7COM1028 Secure Systems Programming Referral Coursework: Secure
Create a GUI program that:Accepts the following from a user:Item NameItem QuantityItem PriceAllows the user to create a file to store the sales receip
CS 340 Final Project Guidelines and Rubric Overview The final project will encompass developing a web service using a software stack and impleme
