Question: Use the data set CONSUMP for this exercise. (i) Estimate a simple regression model relating the growth in real per capita consumption (of nondurables and

Use the data set CONSUMP for this exercise.

(i) Estimate a simple regression model relating the growth in real per capita consumption (of nondurables and services) to the growth in real per capita disposable income. Use the change in the logarithms in both cases. Report the results in the usual form. Interpret the equation and discuss statistical significance.

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