Introductory econometrics.

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…showed last 75 words of 1286 total…the coefficient also means the elasticity. In the other words, the elasticity of relative price is 1.088, it is greater than 1, it is elastic; the elasticity of real income is -0.202 less than 1, it is inelastic. The sample size is 13, it is not very big, and will affect the accuracy of the estimation. The more data will improve the accuracy. In addition, a large spread of values of explanatory variable improves accuracy of estimation. Regression Regression