The following table gives the variable definitions for various kinds of expenditures, total expenditure, income, age of household, and the number of children for a sample of 1,519 households drawn from the 1980€“1982 British Family Expenditure Surveys.

The actual dataset can be found on this text€™s website. The data include only households with one or two children living in Greater London. The sample does not include self-employed or retired households.
a. Using the data on food expenditure in relation to total expenditure, determine which of the models summarized in Table 6.6 fits the data.
b. Based on the regression results obtained in (a), which model seems appropriate in the present instance?

List of Variables: wfood = budget share for food expenditure wfuel = budget share for fuel expenditure wcloth = budget share for clothing expenditure walc = budget share for alcohol expenditure wtrans = budget share for transportation expenditure wother = budget share for other expenditures %3D %3D totexp = total household expenditure (rounded to the nearest 10 U.K. pounds sterling) income = total net household income (rounded to the nearest 10 U.K. pounds sterling) age = age of household head nk = number of children The budget share of a commodity, say food, is defined as: expenditure on food total expenditure wfood