1. Using the information in the table: a. Estimate the parameters for the trend line Y= a + BX b. For every $100 increase in income, what is the estimated average increase in food expenditure in $ ? C. If the income is $0 for a particular week, family still spend some money on food (savings from the last week). Based on your estimate, what is an average expenditure on food when income is SO? d. Compute R-squared and interpret. How sensitive is food expenditure with respect to change in income? (Hint: to answer this question you need to calculate the expenditure elasticity using average expenditure and income) e. Weekly Weekly Family Family Expenditures Income in on food in 100 Obs. (i) 100 dollars Y dollars X 1 2 3 N 4 6 3 4 4 4 4 3 5 5 2 4 6 6 7 7 6 9 00 7 10 1. Using the information in the table: a. Estimate the parameters for the trend line Y= a + BX b. For every $100 increase in income, what is the estimated average increase in food expenditure in $ ? C. If the income is $0 for a particular week, family still spend some money on food (savings from the last week). Based on your estimate, what is an average expenditure on food when income is SO? d. Compute R-squared and interpret. How sensitive is food expenditure with respect to change in income? (Hint: to answer this question you need to calculate the expenditure elasticity using average expenditure and income) e. Weekly Weekly Family Family Expenditures Income in on food in 100 Obs. (i) 100 dollars Y dollars X 1 2 3 N 4 6 3 4 4 4 4 3 5 5 2 4 6 6 7 7 6 9 00 7 10