Resumen

Estadsticas de la regresin
Coeficiente de correlacin mltiple
0.9946256566
Coeficiente de determinacin R^2
0.9892801968
R^2 ajustado
0.9874319548
Error tpico
1.1813956574
Observaciones
35
ANLISIS DE VARIANZA
Regresin
Residuos
Total

Grados de libertad
5
29
34

Intercepcin
PC
PB
YD
R
YEAR

Coeficientes
-1257.8865250535
-0.2468715179
0.1412425928
0.0005793524
-0.0697610766
0.6561748443

Suma de cuadrados
Promedio de los cuadrados
3735.2634593254
747.0526918651
40.4751752822
1.3956956994
3775.7386346076
Error tpico
172.7397156564
0.09685733
0.047850999
0.0002897398
0.184900082
0.0879073119

Estadstico t
-7.2819763554
-2.5488160577
2.9517167013
1.9995611222
-0.377290674
7.4643943757

A mas pollo menos cantidad Demandada

Se podria rechazar la Hipotesis Nula H0 con un 90% de confianza

Por cada incremento de un centimo del pollo por libra se reduce el consumo en 0.24 centimo por libras
La relacion de ambos bienes es sustitutiva, si aumento el precio de la carne aumenta el aumento del pollo , por cada incremen
Por cada anho la variable del consumo de pollo se inccremento asociado al incremento de la poblacion
Si el interes aumenta
Una varaicion de 1centimo/libra en el precio del pollo genera una reduccion de 0.24 lbras/pollo

F
535.254706448

Valor crtico de F
1.26850147290748E-027

Probabilidad
5.090269E-008
0.01636247
0.0062009797
0.0549936367
0.70870467
3.163345E-008

Inferior 95%
-1611.1789065284
-0.4449669973
0.0433763128
-0.000013232
-0.4479241995
0.476384207

Superior 95%
-904.5941435785
-0.0487760386
0.2391088728
0.0011719368
0.3084020463
0.8359654815

Inferior 95.0%
-1611.1789065284
-0.4449669973
0.0433763128
-0.000013232
-0.4479241995
0.476384207

pollo , por cada incremento por centimo en el consumo de la carne aumenta el consumo del pollo en 0.14

l pollo en 0.14

Superior 95.0%
-904.5941435785
-0.0487760386
0.2391088728
0.0011719368
0.3084020463
0.8359654815

Resumen
Estadsticas de la regresin
Coeficiente de 0.99169719
Coeficiente d 0.98346331
R^2 ajustado 0.98125842
Error tpico
0.04140185
Observacione
35
ANLISIS DE VARIANZA
Grados de libertad
Suma de cuadrados
Promedio de los cuadradosF
Valor crtico de F
Regresin
4 3.05823063 0.76455766 446.036888 2.979E-026
Residuos
30 0.05142339 0.00171411
Total
34 3.10965402
Coeficientes Error tpico Estadstico t Probabilidad
Intercepcin 1.36726945 0.20416223 6.69697562 2.024E-007
Variable X 1 -0.27420593 0.0331357 -8.27524075 3.087E-009
Variable X 2 0.11560269 0.04621124 2.50161381 0.0180478
Variable X 3 0.30088173 0.03786593 7.94597486 7.208E-009
Variable X 4 0.02982884 0.03023276 0.98663964 0.33171046

Inferior 95% Superior 95%Inferior 95.0%

0.95031456 1.78422434 0.95031456
-0.34187807 -0.2065338 -0.34187807
0.02122674 0.20997864 0.02122674
0.22354918 0.37821428 0.22354918
-0.03191469 0.09157237 -0.03191469

Superior 95.0%
1.78422434
-0.2065338
0.20997864
0.37821428
0.09157237

Resumen
Estadsticas de la regresin
Coeficiente de 0.99781563
Coeficiente d 0.99563604
R^2 ajustado 0.99488363
Error tpico
0.73295203
Observacione
35
ANLISIS DE VARIANZA
Grados de libertad
Suma de cuadrados
Promedio de los cuadradosF
Valor crtico de F
Regresin
5 3554.42066 710.884132 1323.26773 2.804E-033
Residuos
29 15.5793415 0.53721867
Total
34
3570
Coeficientes Error tpico Estadstico t Probabilidad
Intercepcin 1844.60931 5.70906492 323.101827 3.974E-053
Variable X 1
15.462362 3.2321774 4.78388408 4.624E-005
Variable X 2 -1.43226296 1.06283185 -1.34759131 0.18822444
Variable X 3 -2.53458845 0.89938409 -2.81813796 0.00861022
Variable X 4 9.85521991 1.18115932 8.34368385 3.384E-009
Variable X 5 0.03271845 0.54383584 0.06016237 0.95243901

Inferior 95% Superior 95%Inferior 95.0%

1832.93296 1856.28566 1832.93296
8.85181699 22.072907 8.85181699
-3.60599816 0.74147224 -3.60599816
-4.37403546 -0.69514145 -4.37403546
7.43947786 12.270962 7.43947786
-1.07955073 1.14498764 -1.07955073

Superior 95.0%
1856.28566
22.072907
0.74147224
-0.69514145
12.270962
1.14498764

Resumen
Estadsticas de la regresin
Coeficiente de 0.99781563
Coeficiente d 0.99563604
R^2 ajustado 0.99488363
Error tpico
0.73295203
Observacione
35
ANLISIS DE VARIANZA
Grados de libertad
Suma de cuadrados
Promedio de los cuadradosF
Valor crtico de F
Regresin
5 3554.42066 710.884132 1323.26773 2.804E-033
Residuos
29 15.5793415 0.53721867
Total
34
3570
Coeficientes Error tpico Estadstico t Probabilidad
Intercepcin 1844.60931 5.70906492 323.101827 3.974E-053
Variable X 1
15.462362 3.2321774 4.78388408 4.624E-005
Variable X 2 -1.43226296 1.06283185 -1.34759131 0.18822444
Variable X 3 -2.53458845 0.89938409 -2.81813796 0.00861022
Variable X 4 9.85521991 1.18115932 8.34368385 3.384E-009
Variable X 5 0.03271845 0.54383584 0.06016237 0.95243901

Inferior 95% Superior 95%Inferior 95.0%

1832.93296 1856.28566 1832.93296
8.85181699 22.072907 8.85181699
-3.60599816 0.74147224 -3.60599816
-4.37403546 -0.69514145 -4.37403546
7.43947786 12.270962 7.43947786
-1.07955073 1.14498764 -1.07955073

Por cada variacion 1% en el precio del pollo genera un cambio de 0.11% en el consumo de pollo

Superior 95.0%
1856.28566
22.072907
0.74147224
-0.69514145
12.270962
1.14498764

Regression Analysis of Data on Chicken Demand

Y
20.60
21.70
22.10
21.90
22.80
21.40
24.40
25.50
28.10
28.90
28.10
30.20
30.00
30.80
31.20
33.30
35.60
36.50
36.70
38.40
40.50
40.30
41.80
40.40
40.70
40.10
42.70
44.10
46.70
50.60
50.10
51.60
53.00
53.80
55.60

PC
22.20
25.00
22.10
22.10
16.80
18.60
16.00
13.70
14.00
11.00
12.20
10.10
10.20
10.00
9.20
8.90
9.70
7.90
8.20
9.70
8.80
7.70
9.00
15.10
9.70
9.90
12.90
12.00
12.40
13.90
11.00
11.10
10.30
12.70
15.90

307774642.xls

PB
23.30
28.70
24.30
16.30
16.00
15.60
14.90
17.20
21.90
22.60
20.40
20.20
21.30
19.90
18.00
19.80
22.29
22.30
23.40
26.20
27.10
29.00
33.50
42.80
35.60
32.30
33.70
34.50
48.50
66.10
62.40
58.60
56.70
55.50
57.30

YD
1362
1465
1515
1581
1583
1664
1741
1802
1832
1903
1947
1991
2073
2144
2296
2448
2613
2757
2956
3152
3393
3630
3880
4346
4710
5132
5550
6046
6688
7682
8421
9243
9724
10340
11257

R
1.20
1.52
1.72
1.90
0.94
1.73
2.62
3.23
1.78
3.37
2.87
2.36
2.77
3.16
3.54
3.95
4.86
4.29
5.34
6.67
6.39
4.33
4.07
7.03
7.84
5.80
4.98
5.27
7.19
10.07
11.43
14.03
10.61
8.61
9.52

YEAR
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984

Legend:
Y = per capita chicken consumption (in pounds)
PC = price of chicken (in cents per pound)
PB = price of beef (in cents per pound)
YD = US per capita disposable income ($)
R = interest rate (in percent)

Chicken Data

Page 10 of 12

Regression Analysis Questions

Step 2 Questions:
1. Write out, precisely, the estimated equation of demand. [Use the form Y = a - b*X rather than the Y
= m*X + b form used by Excel.]
2. What is the economic interpretation of the intercept term?
3. What is the economic interpretation of the slope coefficient?
4. How is this value of R Square interpreted?
5. Are you confident that this estimated demand equation is the best possible? Explain. If not, go on
to Step 3 Questions.

Step 3 Questions:
Redo the regression analysis with an expanded model of the demand for chicken. Using the
appropriate data that appears in cells A3:E38, follow Step 3 of the Regression Analysis Handout,
making whatever changes are necessary to account for the additional explanatory variable(s).
When you are finished, your spreadsheet must have a SUMMARY OUTPUT table on a new
worksheet tab labeled Y=f(PC, Other).
Questions about the Regression dialog box in Excel.
6. Why are cells A3:A38 selected as the Input Y Range?
7. Why are cells B3:?38 selected as the Input X Range?
Questions about the regression analysis SUMMARY OUTPUT table for the expanded model -- Y =
f(PC, Other). [Note: To help you reawaken your stats memory, read over the Appendix on The Basics of
Regression (pages 683 - 691) in Pindyck and Rubinfeld.]
8. How is this value of R Square interpreted?
9. What do the values of the Coefficients on the intercept, PC, and others mean?
10. What does the t Stat mean? How is it interpreted for the coefficient of the intercept, PC, and
others?
11. What does the P-value tell you? What does it mean for the intercept, PC, and others?
12. Given the output of this regression analysis, write out, precisely, the estimated equation describing
the demand for chicken.
13. After carefully examining the output of both regressions, which equation would you be most
confident adequately describes the demand for chicken? In your explanation, be sure to mention
the problem(s) that can arise when important explanatory variables are omitted.

Step 4 Questions:
Questions about elasticities indicated by the new regression. [Note: You may want to reread section 2.3
(pages 31 - 33 on the different ways of measuring demand elasticities.) and page 134.]
14. What is the price elasticity of demand for chicken? [Hint: remember that you used the natural log
of the data in calculating the regression.]
15. Calculate how responsive consumers are to a 1% increase in the price of chicken? Explain what
this tells you about the demand for chicken.
16. Are chicken and beef complements or substitutes? Explain.
17. Calculate how responsive chicken consumers are to a 1% increase in the price of beef.

307774642.xls

Questions

Page 11 of 12

18. Is chicken a normal good or an inferior good? Explain.

19. Calculate how responsive chicken consumers are to a 1% increase in per capita disposable
income.

307774642.xls

Questions

Page 12 of 12