# Use the “BEER” data set to answer the following

Use the “BEER” data set to answer the following question.(data below, able to be copy/pasted into excel) The data set includes 30 observations on beer consumption and related data. The variables included are as follows:

q             = quantity of beer purchased (in liters)

pB           = price of beer (in dollars)

pL           = price of other liquor (in dollars)

pR           = price of remaining (non-alcoholic) goods & services (in dollars)

m            = income (in dollars)

1.Suppose that beer industry representatives hypothesize that the marginal propensity to buy beer out of an additional dollar of income is \$0.01. Conduct a hypothesis test to determine if there is any validity to their conjecture. Use a = 1%.

2.Conduct a hypothesis test to determine if the regressors are jointly significant in explaining the quantity of beer purchased. Be sure to state the null and alternative hypotheses formally.

 obs q pB pL pR m 1 81.7 1.78 6.95 1.11 25088 2 56.9 2.27 7.32 0.67 26561 3 64.1 2.21 6.96 0.83 25510 4 65.4 2.15 7.18 0.75 27158 5 64.1 2.26 7.46 1.06 27162 6 58.1 2.49 7.47 1.1 27583 7 61.7 2.52 7.88 1.09 28235 8 65.3 2.46 7.88 1.18 29413 9 57.8 2.54 7.97 0.88 28713 10 63.5 2.72 7.96 1.3 30000 11 65.9 2.6 8.09 1.17 30533 12 48.3 2.87 8.24 0.94 30373 13 55.6 3 7.96 0.91 31107 14 47.9 3.23 8.34 1.1 31126 15 57 3.11 8.1 1.5 32506 16 51.6 3.11 8.43 1.17 32408 17 54.2 3.09 8.72 1.18 33423 18 51.7 3.34 8.87 1.37 33904 19 55.9 3.31 8.82 1.52 34528 20 52.1 3.42 8.59 1.15 36019 21 52.5 3.61 8.83 1.39 34807 22 44.3 3.55 8.86 1.6 35943 23 57.7 3.72 8.97 1.73 37323 24 51.6 3.72 9.13 1.35 36682 25 53.8 3.7 8.98 1.37 38054 26 50 3.81 9.25 1.41 36707 27 46.3 3.86 9.33 1.62 38411 28 46.8 3.99 9.47 1.69 38823 29 51.7 3.89 9.49 1.71 38361 30 49.9 4.07 9.52 1.69 41593

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