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Lil Pteaideatiai Eleetien Data {191619915}: The data in Table 5.19 1were ltii'ajur pmvitled by Pt'al'eaatit' Ray Fair Dl' Yale University whn has funnel that the pmpertian nf antes attained by a presidential candidate in a USA. presiden- tial eieetian ean he predieteci ataeuratelj.r by three maerneennarnie variables, inenmbeney. and a 1itatiahde which indicates whether the eleetinn waa held dating at just after a ware The variables ennaideretl are given in Table 5.20. All gmwth rates are annual rates in pereentage paints. Cnnaider tting the fnilnwihg initial Handel t0 the data: It" = n+lf+a+t53W+4lJj +a5P+ N+e {5.11} (a) Write the tegreeeinn nmdel enneapandiag tn eaeh at the three Feasible 1It-tal'nea {If D in (5.1 l} and interpret the regression meieient if D {133}. (I1) De we need ta keep the T.rariahie I in the above mndel? \f\fThble 5.21] Vl'ihl fur the Presidential Election Date (It! [IS-1995) in Table 5.19 1|.I"ariable Denitiuu YEAR Electiuu year if Demucratic share ui' the twparty presidential state I Indicatcr variable {1 ifthcrc is a Demacratic incumbent at the time ufthe Election and ] if mere is a Rewbiimn imminent} D Catcgurical variable [1 if a Demucratic incumbent is waning fur clcrc'tiun. 1 if a Republican incumbent is naming fur clecticm. and utberwisc] W lndicatur amiable {1 far the electinns uf 1920, [9:14, and 1943, and anthem-rise] G Gruwth rate ui" real per capita GDP in the rst three quaners ufthc clc-ctiun year P Absulute 1li'alue uf the Era-will rate {If the GDP dealut' in the rst 15 quarters uf the adminjsu'atiua N Number uf quarters in the rst 15 quarters cf the administratiun in 1which the gruwth rate ui' real per capita GDP is greater than 3.2%