Question: Given these variables and subscripts, where i represents a country and j represents a year. Consider 2001 to be the reference year ( j =
Given these variables and subscripts, where i represents a country and j represents a year. Consider 2001 to be the reference year (j = 0 for 2001). The information is from 2001 to 2011.
Bij = per capita brandy consumption in country i in the year j
Gij = per capita gin consumption in country i in the year j
Vij = per capita vodka consumption in country i in the year j
Xij = per capita consumption of other spirits in country i in the year j
Pij = population of country i in the year j
Sj = total consumption of spirits in Scandinavia in the year j
Yj = average consumption of spirits in Scandinavia in the year j
Scandinavian countries are considered to include Sweden, Norway, Denmark, Finland, Iceland and Faroe Islands.
Using the appropriate variable symbols and subscripts defined above, what is the formula for the average consumption of spirits per person for the Balkans, and what is the formula for the percentage change in the average consumption of spirits in Scandinavia from the base year (2001) to the year j?
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