W - U = BEC2044 MT (Q (GC) - Microsoft Word PDFelement File Home Insert Page Layout References Mailings Review View A ? NUR T 12 Table Picture Clip Cover Blank Page Page Page Break Pages Equation Symbol A As Signature Line- 5. Date & Time Text Quick WordArt Drop Box Parts Cap Object Text Shapes SmartArt Chart Screenshot Hyperlink Bookmark Cross-reference Header Footer Page Number Illustrations Links Header & Footer Art Tables Symbols L XIII.1 III.2 III.3 III.4 III.5 III:6:III.7 1 1 1 [Total: 20 marks] Question 3 (a) Table 2 reported the estimated equation (3) and (4), where both equations were used to estimate the relationship between food expenditure (E) and total expenditure (1) in India. Equation (3) Table 2 , 94.21 +0.4377 s.e. (0.078) R2 = 0.3698 N= 55 , = -1283.91+257.27 In T s.e. (45.43) R=0.3769 N=55 Equation (4) I'lilliu8iiillin7,lililibilili..5.1.1.114...l...3... (1) (2 Identify the functional forms of Equation (3) and (4). marks) (11) (4 Interpret the slope coefficient of Equation (3) and (4). marks) (4 (111) Compare Equation (3) and (4). Which one is better? marks) (iv) (4 Briefly explain the criteria that should be considered when comparing models. marks) (6) (6 Briefly discuss double-log model and log-lin model with an example for each model. marks) [Total: 20 marks) + * O Page: 6 of 8 Words: 962 87% W 4:24 PM 10/2/2021 W - U = BEC2044 MT (Q (GC) - Microsoft Word PDFelement File Home Insert Page Layout References Mailings Review View A ? NUR T 12 Table Picture Clip Cover Blank Page Page Page Break Pages Equation Symbol A As Signature Line- 5. Date & Time Text Quick WordArt Drop Box Parts Cap Object Text Shapes SmartArt Chart Screenshot Hyperlink Bookmark Cross-reference Header Footer Page Number Illustrations Links Header & Footer Art Tables Symbols L XIII.1 III.2 III.3 III.4 III.5 III:6:III.7 1 1 1 [Total: 20 marks] Question 3 (a) Table 2 reported the estimated equation (3) and (4), where both equations were used to estimate the relationship between food expenditure (E) and total expenditure (1) in India. Equation (3) Table 2 , 94.21 +0.4377 s.e. (0.078) R2 = 0.3698 N= 55 , = -1283.91+257.27 In T s.e. (45.43) R=0.3769 N=55 Equation (4) I'lilliu8iiillin7,lililibilili..5.1.1.114...l...3... (1) (2 Identify the functional forms of Equation (3) and (4). marks) (11) (4 Interpret the slope coefficient of Equation (3) and (4). marks) (4 (111) Compare Equation (3) and (4). Which one is better? marks) (iv) (4 Briefly explain the criteria that should be considered when comparing models. marks) (6) (6 Briefly discuss double-log model and log-lin model with an example for each model. marks) [Total: 20 marks) + * O Page: 6 of 8 Words: 962 87% W 4:24 PM 10/2/2021