Question: Table 3-7 (found on the textbook's Web site) gives data on U.S. expenditure on imported goods (Y) and personal disposable income (X) for the period

Table 3-7 (found on the textbook's Web site) gives data on U.S. expenditure on imported goods (Y) and personal disposable income (X) for the period 1959 to 2006.
Based on the data given in this table, estimate an import expenditure function, obtaining the usual regression statistics, and test the hypothesis that expenditure on imports is unrelated to personal disposable income.

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