Question: e . Estimate a log - linear model for the data. What is the estimated model ? f . What is the own - price

e. Estimate a log-linear model for the data. What is the estimated model ?
f. What is the own-price elasticity of gasoline in the log-linear model?
g. Are the coefficients of PnewC, PusedC significant at 99%?
Pg = Price of gasoline in each market
G = Total Gasoline Demanded in each market
PnewC = Price of new car
PusedC = Price of used car
Ppt = Price of public transportation
Pd = Price of durable goods
Pnd = Price of non-durable goods
Ps = Price of all other services
Obs =27 markets
Income = Household per-capita income
e. Estimate a log-linear model for the data. What is the

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