U.S. defense budget outlays, 1962, you are asked to consider the following model

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Chapter 7

Textbook: The demand for roses. The demand for roses.* Table 7.6 gives quarterly data on these variables: Y quantity of roses sold, dozens X2 average wholesale price of roses, /dozen X3 average wholesale price of carnations, /dozen X4 average weekly family disposable income, /week X5 the trend variable taking values of 1, 2, and so on, for the period 1971III to 1975II in the Detroit metropolitan area

You are asked to consider the following demand functions: Yt 1 2X2t 3X3t 4X4t 5X5t ut lnYt 1 2lnX2t 3lnX3t 4lnX4t 5X5t ut a) Y 10, 2, Prose Pcarn Income 197.4 Trend Se () () () () () R...

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