Question: Please answer the following question 2 and 3 2. A current sample of 100 families was taken. The estimated slope was .128112 with a sample

Please answer the following question 2 and 3

Please answer the following question 2 and 3 2. A current sample

2. A current sample of 100 families was taken. The estimated slope was .128112 with a sample standard deviation of .029465. The estimated intercept was $365. a. What is the equation for the Sample Regression Function? Show this on a graph. b. What is the estimated error for your sample regression function? c. Consider the family with $6000 monthly income. What is the predicted MGE for this family? Show this on your graph. d. What is the estimated error for this family with $6000 Income per month and $1200 per month in MGE? Show this on your graph. e. The sample average MGE was 5980. Show this on your graph. What is the error for our family if the basic model is used to estimate MGE? Show this on your graph. f. Compare this error from the error in the regression model. 3. Using the sample results from above, test the alternative hypothesis that the marginal propensity to consume on groceries has changed from the pre-pandemic level of .10. Use a 10% level of signicance. You must show all eight steps

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