Question: 11.5 Using the CES data set, perform a tobit regression of expenditure on your commodity on total household expenditure, and compare the slope coefficient with
11.5 Using the CES data set, perform a tobit regression of expenditure on your commodity on total household expenditure, and compare the slope coefficient with those obtained in OLS regressions including and excluding observations with 0 expenditure on your commodity.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
