# Economic Meaning

According   to the theory, you know that the quantity of demand for the chicken, Qt, will   be affected by the price of the chicken itself, PCt, the price of the close   substitute good, i.e. beef, PBt, and average annual personal income, YDt.

Where Qt = per capita chicken   consumption (in pounds) in year t   PCt = the price of chicken (in   cents per pound) in year t   PBt = the price of beef (in   cents per pound) in year t   YDt = U.S. per capita   disposable income (in hundreds of dollars) in year t

1. Report   your results of the estimated regression in the form of an equation. Write your results listing the standard errors in parentheses under the numerical estimates of each estimator.

2. What is   the estimated value of b2 and what is the economic meaning of this value?

3. What is the predicted value of the average quantity demanded for chicken with the mean value of each of the independent variables?

4. Test the hypothesis at the 5% significance level that an additional cent increase in chicken price, PC, increase chicken demand by less than 0.5 pounds per capita. Be sure to state: the null and alternative hypothesis, the critical value of the test statistic, degree of freedom, the computed value of the test statistic, and your conclusion.

Question

Race In The 20th & 21st Centuries: Develop An Argument About How An Aspect Of Or Idea About Race Has Changed (Or Not Changed) Over Time In The United States.

As part of your argument, explain how your analysis of the documents adds to or challenges the information and ideas about race at least two of the secondary sources assigned for the unit.

-Cite all your sources (primary and secondary) using APA style at the end of the essay.

– 450-500 words.

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