The following table gives the variable definitions for various kinds of expenditures, total expenditure, income, age of
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The actual dataset can be found on this texts 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?
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