A company produces a brand of yoghurt for which the following two demand equations have 1....

  

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A company produces a brand of yoghurt for which the following two demand equations have 1. been estimated. (1) Q=3.6 0.2Py - 0.61 + (2.75) (-2.87) (-2.54) 0.7Pi (3.71) Number of observations = 60, R2 = 0.96 (numbers in brackets are t-statistics) (ii) Q 2.4 0.5Py + 0.81 (1.15) (2.01) (2.11) 0.4Pi (-1.67) Number of observations = 60, R2 = 0.68 (numbers in brackets are t-statistics) Where Q = number of units of yoghurt demanded, Px price of yoghurt, I = disposable income, and P = ice cream. Significance of a coefficient can be determined by t>20 ort A company produces a brand of yoghurt for which the following two demand equations have 1. been estimated. (1) Q=3.6 0.2Py - 0.61 + (2.75) (-2.87) (-2.54) 0.7Pi (3.71) Number of observations = 60, R2 = 0.96 (numbers in brackets are t-statistics) (ii) Q 2.4 0.5Py + 0.81 (1.15) (2.01) (2.11) 0.4Pi (-1.67) Number of observations = 60, R2 = 0.68 (numbers in brackets are t-statistics) Where Q = number of units of yoghurt demanded, Px price of yoghurt, I = disposable income, and P = ice cream. Significance of a coefficient can be determined by t>20 ort