Data

2013
Country Name
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29

Country_CoHH_Csmp
CONS
Australia
AUS
Austria
AUT
Canada
CAN
China
CHN
Denmark
DNK
France
FRA
Finland
FIN
Germany
DEU
Greece
GRC
Hong Kong SAR, China HKG
India
IND
Italy
ITA
Ireland
IRL
Indonesia
IDN
Korea, Rep.
KOR
Malaysia
MYS
New Zealand
NZL
Norway
NOR
Philippines
PHL
Russian Federation
RUS
Singapore
SGP
South Africa
ZAF
Switzerland
CHE
Sweden
SWE
Thailand
THA
Turkey
TUR
United Kingdom
GBR
Vietnam
VNM
Japan
JPN
Mean

2013
GDP2005
GDP2005

503.8
182.9
777.7
1774.8
130.2
1309.7
114.9
1758.7
136.5
153.4
883.5
1040.4
96.6
267.6
584.5
108.2
79.6
163.5
109.9
650.1
65.8
211.6
268.9
208.7
122.5
447.7
1615.4
60.9
2853.4

867.2
349.5
1319.3
4864.0
265.1
2351.9
212.6
3161.9
201.0
241.0
1489.8
1759.6
217.3
452.3
1199.9
207.9
130.3
331.4
155.6
993.5
199.2
323.7
477.3
437.3
230.4
653.6
2578.7
92.3
4784.5

575.2

1053.4

CONSUMPTION FUNCTION :: Linear Model

2013
HH Consumption
GDP2005
Country N Country Co (US$ Billion)
(US$Billion)
CONS
GDP2005
1 Australia AUS
503.8
2 Austria
AUT
182.9
3 Canada
CAN
777.7
4 China
CHN
1774.8
5 Denmark DNK
130.2
6 France
FRA
1309.7
7 Finland
FIN
114.9
8 Germany DEU
1758.7
9 Greece
GRC
136.5
10 Hong Kong HKG
153.4
11 India
IND
883.5
12 Italy
ITA
1040.4
13 Ireland
IRL
96.6
14 Indonesia IDN
267.6
15 Korea, Rep.KOR
584.5
16 Malaysia MYS
108.2
17 New Zeala NZL
79.6
18 Norway
NOR
163.5
19 Philippines PHL
109.9
20 Russian FedRUS
650.1
21 Singapore SGP
65.8
22 South Afric ZAF
211.6
23 SwitzerlandCHE
268.9
24 Sweden
SWE
208.7
25 Thailand THA
122.5
26 Turkey
TUR
447.7
27 United Kin GBR
1615.4
28 Vietnam
VNM
60.9
29 Japan
JPN
2853.4
Mean

575.2

2013

867.2
349.5
1319.3
4864.0
265.1
2351.9
212.6
3161.9
201.0
241.0
1489.8
1759.6
217.3
452.3
1199.9
207.9
130.3
331.4
155.6
993.5
199.2
323.7
477.3
437.3
230.4
653.6
2578.7
92.3
4784.5
1053.4

0.58
0.52
0.59
0.36
0.49
0.56
0.54
0.56
0.68
0.64
0.59
0.59
0.44
0.59
0.49
0.52
0.61
0.49
0.71
0.65
0.33
0.65
0.56
0.48
0.53
0.68
0.63
0.66
0.60

HOUSEHOLD CONSUMPTION

APC

HH CONSUMPTION vs
3000

2500

2000

1500

1000

500

1000

0.6

SUMMARY OUTPUT
Regression Statistics
Multiple R
0.967578
R Square
0.936207
Adjusted R Square
0.933844
Standard Error
176.7845
Observations
29

2000

3000

GDP(2005) in US

ANOVA
df
Regression
Residual
Total

SS
MS
1 12383745 12383745
27 843824.2 31252.75
28 13227570

Coefficients
Standard Error t Stat
43.59777 42.31965 1.030202
0.504685 0.025354
19.9059

Intercept
GDP2005

RESIDUAL OUTPUT
Observation

Predicted CONS
Residuals
1
481.24
22.55
2
219.99
-37.05
3
709.42
68.24
4
2498.39
-723.63
5
177.41
-47.16
6
1230.59
79.15
7
150.90
-35.98
8
1639.38
119.36
9
145.05
-8.58
10
165.24
-11.82
11
795.47
88.05
12
931.62
108.77
13
153.25
-56.66
14
271.88
-4.24
15
649.16
-64.68
16
148.55
-40.33
17
109.36
-29.76
18
210.87
-47.37
19
122.13
-12.19
20
545.01
105.12
21
144.14
-78.30
22
206.99
4.63
23
284.46
-15.57
24
264.30
-55.61
25
159.86
-37.35
26
373.48
74.21
27
1345.02
270.39
28
90.17
-29.27
29
2458.28
395.10

HH CONSUMPTION vs GDP

2000

3000

GDP(2005) in US$

4000

5000

6000

F
Significance F
396.245 1.15E-017

P-value Lower 95% Upper 95%Lower 95.0%

Upper 95.0%
0.312056 -43.23498 130.4305 -43.23498 130.4305
1.15E-017 0.452664 0.556706 0.452664 0.556706

CONSUMPTION FUNCTION :: LOG_LOG Model

HH
Consumption
GDP2005
Country N Country Co (US$ Billion)
(US$Billion)
CONSUMPTION GDP
1 Australia AUS
503.8
867.2
2 Austria
AUT
182.9
349.5
3 Canada
CAN
777.7
1319.3
4 China
CHN
1774.8
4864.0
5 Denmark DNK
130.2
265.1
6 France
FRA
1309.7
2351.9
7 Finland
FIN
114.9
212.6
8 Germany DEU
1758.7
3161.9
9 Greece
GRC
136.5
201.0
10 Hong Kong HKG
153.4
241.0
11 India
IND
883.5
1489.8
12 Italy
ITA
1040.4
1759.6
13 Ireland
IRL
96.6
217.3
14 Indonesia IDN
267.6
452.3
15 Korea, Rep.KOR
584.5
1199.9
16 Malaysia MYS
108.2
207.9
17 New Zeala NZL
79.6
130.3
18 Norway
NOR
163.5
331.4
19 Philippines PHL
109.9
155.6
20 Russian FedRUS
650.1
993.5
21 Singapore SGP
65.8
199.2
22 South Afric ZAF
211.6
323.7
23 SwitzerlandCHE
268.9
477.3
24 Sweden
SWE
208.7
437.3
25 Thailand THA
122.5
230.4
26 Turkey
TUR
447.7
653.6
27 United Kin GBR
1615.4
2578.7
28 Vietnam
VNM
60.9
92.3
29 Japan
JPN
2853.4
4784.5
Mean

575.2

1053.4

2013

2013

log(CONS)
6.2
5.2
6.7
7.5
4.9
7.2
4.7
7.5
4.9
5.0
6.8
6.9
4.6
5.6
6.4
4.7
4.4
5.1
4.7
6.5
4.2
5.4
5.6
5.3
4.8
6.1
7.4
4.1
8.0

log(GDP2005)
6.8
5.9
7.2
8.5
5.6
7.8
5.4
8.1
5.3
5.5
7.3
7.5
5.4
6.1
7.1
5.3
4.9
5.8
5.0
6.9
5.3
5.8
6.2
6.1
5.4
6.5
7.9
4.5
8.5

5.7

6.3

PLOTTING GRAPH

log (HOUSEHOLD C ONSUM P TION)

log(Consumption) vs Log(GDP)

HH CONSUMPTION vs GDP
9

4.5

REGRESSION
Model:

5.5

log(CONS) = a + b.log(GDP2005)

SUMMARY OUTPUT
Regression Statistics
Multiple R
0.987887
R Square
0.975921

6.5

log(GDP(2005) )

7.5

Adjusted R Square
Standard Error
Observations

0.975029
0.178563
29

ANOVA
df
Regression
Residual
Total

Intercept
log(GDP2005)

SS
MS
F
Significance F
1 34.89234 34.89234 1094.323 2.18E-023
27 0.860891 0.031885
28 35.75323

Coefficients
Standard Error t Stat
P-value Lower 95% Upper 95%
-0.513575 0.191682 -2.67931 0.012411 -0.906873 -0.120276
0.98825 0.029874 33.08055 2.18E-023 0.926953 1.049546

RESIDUAL OUTPUT
ObservationPredicted log(CONS)
Residuals
1 6.172148 0.050001
2 5.274155 -0.064976
3 6.586852 0.069445
4 7.876288 -0.394867
5
5.0011 -0.131661
6 7.158206
0.01938
7 4.782897 -0.038664
8 7.450671
0.02168
9 4.727542 0.188552
10 4.906888 0.126293
11 6.706955 0.076948
12 6.871441
0.07591
13 4.804328 -0.233904
14 5.529002 0.060671
15
6.49309 -0.122366
16 4.761007 -0.076901
17 4.299092 0.077879
18 5.221653 -0.124889
19
4.47441 0.225452
20 6.306589 0.170581
21
4.71862 -0.531406
22 5.198465 0.156315
23 5.582001 0.012302
24 5.495603 -0.154744
25 4.862201 -0.053953
26 5.892798 0.211289
27 7.249165 0.138183
28
3.95805 0.151199

29

7.86001

0.09625

7.5

8.5

Lower 95.0%
Upper 95.0%
-0.906873 -0.120276
0.926953 1.049546

MINCER'S WAGE EQUATION

wage
18.7
16.83
22
12.7
7.25
50
7.5
15.55
72.13
39.9
8
17
13.5
14.25
10.5
18.52
19.23
18.75
30.9
23
7
12
10
21
22.7
28.72
8.25
13.33
10
7.6
43
14
30.33
13
19.24
11
24.05
35.25
19.23
13.16
14.16
7.5
9.5

educ
16
13
11
12
12
13
16
12
12
13
6
14
12
12
16
12
14
12
16
13
12
16
14
13
18
12
13
12
12
12
12
16
18
12
18
16
13
16
16
16
12
12
12

exper
39
31
27
40
16
18
4
34
27
32
14
29
7
46
37
21
4
29
35
37
14
9
37
9
29
14
7
50
39
47
29
7
34
28
24
43
35
25
14
4
6
18
8

Data: CPS112
hrswk
37
40
40
40
40
40
40
40
52
40
40
40
32
40
38
40
40
40
50
35
40
30
40
40
62
46
40
30
40
5
40
20
45
40
50
40
40
60
60
38
38
40
60

married
1
0
1
0
0
1
1
1
1
1
1
0
0
1
1
0
0
1
1
0
1
0
1
1
0
0
1
1
0
0
0
0
1
0
0
1
1
1
0
0
0
0
0

female
1
1
0
1
1
1
1
1
1
1
1
1
1
0
1
1
0
0
1
1
1
1
1
0
0
0
1
0
1
1
0
0
0
0
0
0
0
0
0
1
0
0
0

metro
1
1
1
0
1
0
0
1
1
1
1
1
1
1
1
1
1
1
1
1
0
1
1
1
1
1
0
1
1
0
0
1
0
1
1
0
1
1
1
1
1
1
1

36.05
13
18
14.43
15.85
40.15
12.98
10.51
16.25
10
10.19
13.88
16
8
25
13
11
38.75
36.05
28
42.11
28
9
15
13.45
6.66
50
44.23
9
21.93
25.25
28
36.06
10.49
12.9
20.2
8.76
21.36
17.96
8.65
39.43
10
10.85
12
12
25
6.5
25

16
12
12
13
14
16
13
12
12
16
12
3
10
13
12
12
16
18
21
16
16
14
12
9
12
12
18
18
16
16
18
21
13
14
16
12
16
12
14
16
12
12
16
12
16
18
12
21

6
50
30
41
47
28
31
38
14
4
38
64
11
6
36
32
20
23
31
30
44
36
16
23
14
21
33
27
3
17
27
14
34
14
9
13
32
38
29
14
32
11
26
38
28
26
54
27

40
40
40
40
40
40
40
48
40
20
90
40
40
0
40
40
8
40
40
12
38
50
40
50
40
30
40
40
40
80
40
5
80
45
40
40
25
42
45
40
40
50
40
40
15
20
20
40

1
0
1
1
0
1
1
1
1
0
0
0
1
1
1
0
1
0
1
1
1
1
0
1
0
0
1
0
0
1
1
1
1
1
0
1
1
1
1
1
1
0
1
0
1
1
1
1

0
1
0
1
1
0
1
1
0
1
1
0
0
1
0
0
1
1
1
1
0
1
0
0
1
1
1
1
1
0
1
1
0
0
1
0
1
0
0
0
0
0
1
1
1
1
1
0

1
1
1
1
1
1
1
1
1
1
1
0
1
1
1
1
1
1
1
1
1
0
0
0
1
0
1
1
0
1
1
1
1
1
1
1
1
0
1
1
1
1
0
1
0
1
0
0

14
38
35.63
7.9
12
24.14
28.83
15
19.23
21.25
21.25
9
24.03
11.25
10.25
62.03
12.82
21.38
12
16.93
8.5

12
16
12
12
12
16
12
12
14
8
16
13
21
12
16
16
14
13
16
16
13

20
15
22
40
30
14
20
32
24
22
13
10
17
16
38
44
22
11
37
8
22

40
40
40
40
40
40
40
40
40
40
40
40
65
40
40
40
45
40
40
40
40

1
1
1
0
1
1
1
0
1
1
0
1
1
1
1
0
0
0
1
0
0

0
1
0
0
0
0
0
0
1
0
0
0
0
0
1
0
1
0
1
1
0

1
1
0
0
0
1
1
0
1
1
1
0
1
1
1
1
1
1
1
1
1

67

56

87

ta: CPS112
midwest
0
0
0
1
0
0
0
0
0
0
0
0
1
0
0
1
1
0
0
0
1
0
1
0
1
0
0
0
1
0
1
1
1
1
0
0
1
0
0
1
0
0
0

south
1
0
0
0
0
0
1
1
0
0
0
0
0
1
1
0
0
0
1
0
0
1
0
0
0
1
1
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
1

west
0
0
1
0
0
0
0
0
1
0
0
1
0
0
0
0
0
1
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0

black
0
0
0
0
1
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

asian
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

NOB
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43

1
1
0
0
1
0
0
1
1
0
0
0
0
0
0
0
0
1
0
0
0
1
1
0
0
1
1
0
0
0
1
1
1
1
0
0
0
0
0
0
0
0
1
1
0
0
1
0

0
0
0
0
0
1
1
0
0
0
1
1
0
1
0
1
0
0
0
0
1
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
0
0
0
0
1
0
0

0
0
0
1
0
0
0
0
0
0
0
0
0
0
1
0
0
0
1
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
1
0
0
1
0
0
0
0
0
0
1
0
0
1

0
0
1
0
1
0
1
0
1
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91

0
0
0
0
1
1
0
1
0
0
0
1
0
0
0
0
0
1
1
0
0

0
1
0
1
0
0
0
0
0
0
1
0
1
1
0
0
0
0
0
0
1

1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
1
0

0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
1

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0

37

28

17

12

92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112

cps
CURRENT POPULATION SURVEY
YEAR
1997
sub-sample :
112 observations
wage
educ
exper
hrswk
married
female
metro
midwest
south
west
black
asian

earning
years of education
years of working experience
hours of work per week
marital status
dummy var
place of living in metropolitan area
location dummy
location dummy
location dummy
race=black
race=Asian

Observation
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43

44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91

92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112

lnWage
School Predicted lnWage
Residuals
2.9285
16.0
2.9500
-0.0214
2.8232
13.0
2.7718
0.0513
3.0910
11.0
2.6531
0.4380
2.5416
12.0
2.7125
-0.1709
1.9810
12.0
2.7125
-0.7315
3.9120
13.0
2.7718
1.1402
2.0149
16.0
2.9500
-0.9351
2.7441
12.0
2.7125
0.0316
4.2785
12.0
2.7125
1.5660
3.6864
13.0
2.7718
0.9145
2.0794
6.0
2.3562
-0.2768
2.8332
14.0
2.8312
0.0020
2.6027
12.0
2.7125
-0.1098
2.6568
12.0
2.7125
-0.0557
2.3514
16.0
2.9500
-0.5986
2.9189
12.0
2.7125
0.2064
2.9565
14.0
2.8312
0.1253
2.9312
12.0
2.7125
0.2187
3.4308
16.0
2.9500
0.4808
3.1355
13.0
2.7718
0.3637
1.9459
12.0
2.7125
-0.7665
2.4849
16.0
2.9500
-0.4651
2.3026
14.0
2.8312
-0.5286
3.0445
13.0
2.7718
0.2727
3.1224
18.0
3.0687
0.0537
3.3576
12.0
2.7125
0.6451
2.1102
13.0
2.7718
-0.6616
2.5900
12.0
2.7125
-0.1224
2.3026
12.0
2.7125
-0.4099
2.0281
12.0
2.7125
-0.6843
3.7612
12.0
2.7125
1.0487
2.6391
16.0
2.9500
-0.3109
3.4121
18.0
3.0687
0.3434
2.5649
12.0
2.7125
-0.1475
2.9570
18.0
3.0687
-0.1117
2.3979
16.0
2.9500
-0.5521
3.1801
13.0
2.7718
0.4083
3.5625
16.0
2.9500
0.6125
2.9565
16.0
2.9500
0.0065
2.5772
16.0
2.9500
-0.3728
2.6504
12.0
2.7125
-0.0620
2.0149
12.0
2.7125
-0.6976
2.2513
12.0
2.7125
-0.4612

Model : logWAGE = a + b.EDUC

SUMMARY OUTPUT
Regression Statistics
Multiple R
R Square
Adjusted R Square
Standard Error
Observations
ANOVA
Regression
Residual
Total
Coefficients
Intercept
EDUC

RESIDUAL OUTPUT
Observation
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17

3.5849
2.5649
2.8904
2.6693
2.7632
3.6926
2.5634
2.3523
2.7881
2.3026
2.3214
2.6304
2.7726
2.0794
3.2189
2.5649
2.3979
3.6571
3.5849
3.3322
3.7403
3.3322
2.1972
2.7081
2.5990
1.8961
3.9120
3.7894
2.1972
3.0879
3.2288
3.3322
3.5852
2.3504
2.5572
3.0057
2.1702
3.0615
2.8881
2.1576
3.6745
2.3026
2.3842
2.4849
2.4849
3.2189
1.8718
3.2189

16.0
12.0
12.0
13.0
14.0
16.0
13.0
12.0
12.0
16.0
12.0
3.0
10.0
13.0
12.0
12.0
16.0
18.0
21.0
16.0
16.0
14.0
12.0
9.0
12.0
12.0
18.0
18.0
16.0
16.0
18.0
21.0
13.0
14.0
16.0
12.0
16.0
12.0
14.0
16.0
12.0
12.0
16.0
12.0
16.0
18.0
12.0
21.0

2.9500
2.7125
2.7125
2.7718
2.8312
2.9500
2.7718
2.7125
2.7125
2.9500
2.7125
2.1781
2.5937
2.7718
2.7125
2.7125
2.9500
3.0687
3.2468
2.9500
2.9500
2.8312
2.7125
2.5343
2.7125
2.7125
3.0687
3.0687
2.9500
2.9500
3.0687
3.2468
2.7718
2.8312
2.9500
2.7125
2.9500
2.7125
2.8312
2.9500
2.7125
2.7125
2.9500
2.7125
2.9500
3.0687
2.7125
3.2468

0.6349
-0.1475
0.1779
-0.1025
-0.0680
0.7427
-0.2084
-0.3601
0.0756
-0.6474
-0.3910
0.4524
0.1789
-0.6924
0.5064
-0.1475
-0.5521
0.5884
0.3381
0.3822
0.7903
0.5010
-0.5152
0.1737
-0.1135
-0.8163
0.8433
0.7207
-0.7527
0.1379
0.1601
0.0854
0.8134
-0.4808
-0.3927
0.2932
-0.7798
0.3491
0.0569
-0.7924
0.9621
-0.4099
-0.5658
-0.2275
-0.4651
0.1502
-0.8407
-0.0280

18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65

2.6391
3.6376
3.5732
2.0669
2.4849
3.1839
3.3614
2.7081
2.9565
3.0564
3.0564
2.1972
3.1793
2.4204
2.3273
4.1276
2.5510
3.0625
2.4849
2.8291
2.1401

12.0
16.0
12.0
12.0
12.0
16.0
12.0
12.0
14.0
8.0
16.0
13.0
21.0
12.0
16.0
16.0
14.0
13.0
16.0
16.0
13.0

2.7125
2.9500
2.7125
2.7125
2.7125
2.9500
2.7125
2.7125
2.8312
2.4750
2.9500
2.7718
3.2468
2.7125
2.9500
2.9500
2.8312
2.7718
2.9500
2.9500
2.7718

-0.0734
0.6876
0.8607
-0.6456
-0.2275
0.2339
0.6490
-0.0044
0.1253
0.5814
0.1064
-0.5746
-0.0675
-0.2921
-0.6227
1.1777
-0.2802
0.2906
-0.4651
-0.1209
-0.6318

66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112

AGE = a + b.EDUC

ssion Statistics
0.3050
0.0930
0.0848
0.5278
112

df
1
110
111

SS
3.1429
30.6475
33.7904

Coefficients
Standard Error
1.9999
0.2505
0.0594
0.0177

MS
3.1429
0.2786

F
11.2806

t Stat
7.9850
3.3587

P-value
0.0000
0.0011

Significance F
0.0011

Lower 95%
Upper 95%Lower 95.0%
1.5036 2.4963044 1.5035914
0.0243 0.0944101 0.0243413

Correlation Coefficient Matrix

Predicted lnWage
Residuals
2.949959 -0.021435
2.7718319 0.0513311
2.6530805 0.4379619
2.7124562 -0.170854
2.7124562 -0.731455
2.7718319 1.1401911
2.949959 -0.935056
2.7124562 0.0316044
2.7124562 1.5660138
2.7718319 0.9145444
2.3562021 -0.276761
2.8312076 0.0020057
2.7124562 -0.109767
2.7124562 -0.055699
2.949959 -0.598584
2.7124562 0.206395
2.8312076 0.1252639

wage
educ
exper
hrswk
married
female
metro
midwest
south
west
black
asian

wage
1.0000
0.2726
0.1120
0.1713
0.1928
-0.0960
0.1398
-0.0512
-0.0679
0.1277
-0.2011
-0.0263

educ
1.0000
-0.1554
-0.0586
0.1148
0.1804
0.1451
0.0491
0.0238
0.0968
-0.2006
0.0533

2.7124562
2.949959
2.7718319
2.7124562
2.949959
2.8312076
2.7718319
3.0687104
2.7124562
2.7718319
2.7124562
2.7124562
2.7124562
2.7124562
2.949959
3.0687104
2.7124562
3.0687104
2.949959
2.7718319
2.949959
2.949959
2.949959
2.7124562
2.7124562
2.7124562
2.949959
2.7124562
2.7124562
2.7718319
2.8312076
2.949959
2.7718319
2.7124562
2.7124562
2.949959
2.7124562
2.178075
2.5937049
2.7718319
2.7124562
2.7124562
2.949959
3.0687104
3.2468375
2.949959
2.949959
2.8312076

0.2187375
0.4807972
0.3636623
-0.766546
-0.465052
-0.528623
0.2726905
0.0536545
0.6451375
-0.661619
-0.122439
-0.409871
-0.684308
1.0487439
-0.310902
0.3434269
-0.147507
-0.111719
-0.552064
0.4083031
0.6125065
0.0065125
-0.372777
-0.062035
-0.697553
-0.461164
0.6349479
-0.147507
0.1779155
-0.102523
-0.068038
0.7426634
-0.208422
-0.360129
0.0756367
-0.647374
-0.391049
0.452374
0.1788839
-0.69239
0.5064196
-0.147507
-0.552064
0.5884204
0.3380694
0.3822455
0.7903262
0.5009969

2.7124562
2.5343292
2.7124562
2.7124562
3.0687104
3.0687104
2.949959
2.949959
3.0687104
3.2468375
2.7718319
2.8312076
2.949959
2.7124562
2.949959
2.7124562
2.8312076
2.949959
2.7124562
2.7124562
2.949959
2.7124562
2.949959
3.0687104
2.7124562
3.2468375
2.7124562
2.949959
2.7124562
2.7124562
2.7124562
2.949959
2.7124562
2.7124562
2.8312076
2.4749535
2.949959
2.7718319
3.2468375
2.7124562
2.949959
2.949959
2.8312076
2.7718319
2.949959
2.949959
2.7718319

-0.515232
0.173721
-0.113477
-0.816337
0.8433126
0.7206929
-0.752734
0.1378966
0.1601158
0.085367
0.8133523
-0.480785
-0.392732
0.2932264
-0.779763
0.3490638
0.0569394
-0.7924
0.9620707
-0.409871
-0.565794
-0.22755
-0.465052
0.1501654
-0.840654
-0.027962
-0.073399
0.6876271
0.8607317
-0.645593
-0.22755
0.2339112
0.6489603
-0.004406
0.1252639
0.5814034
0.1063979
-0.574607
-0.067534
-0.292088
-0.622681
1.1776591
-0.280201
0.290624
-0.465052
-0.120872
-0.631766

Upper 95.0%
2.4963044
0.0944101

exper

1.0000
0.0303
0.1140
0.0860
-0.1297
0.0345
0.0088
-0.0080
0.0818
-0.0589

hrswk

1.0000
-0.0503
-0.3000
0.1044
-0.0031
0.0761
0.1100
-0.0254
0.2430

married

1.0000
-0.0546
-0.0457
-0.1213
0.0105
0.1437
-0.1283
-0.0270

female

1.0000
0.0214
0.0569
-0.0412
-0.0249
0.0577
0.0000

metro

1.0000
-0.1706
0.1114
0.0475
0.1164
0.0723

midwest

1.0000
-0.4055
-0.2971
-0.0592
-0.0947

south

1.0000
-0.2442
0.2667
-0.0778

west

1.0000
-0.1465
0.3188

black

1.0000
-0.0467

asian

1.0000

BOX-COX TEST

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29

Country Name

Country
Code

Australia
Austria
Canada
China
Denmark
France
Finland
Germany
Greece
Hong Kong SAR, China
India
Italy
Ireland
Indonesia
Korea, Rep.
Malaysia
New Zealand
Norway
Philippines
Russian Federation
Singapore
South Africa
Switzerland
Sweden
Thailand
Turkey
United Kingdom
Vietnam
Japan

AUS
AUT
CAN
CHN
DNK
FRA
FIN
DEU
GRC
HKG
IND
ITA
IRL
IDN
KOR
MYS
NZL
NOR
PHL
RUS
SGP
ZAF
CHE
SWE
THA
TUR
GBR
VNM
JPN

2013
HH Consumption
(US$ Billion)
Y
503.8
182.9
777.7
1774.8
130.2
1309.7
114.9
1758.7
136.5
153.4
883.5
1040.4
96.6
267.6
584.5
108.2
79.6
163.5
109.9
650.1
65.8
211.6
268.9
208.7
122.5
447.7
1615.4
60.9
2853.4

2013
GDP2005
(US$Billion)
X
867.2
349.5
1319.3
4864.0
265.1
2351.9
212.6
3161.9
201.0
241.0
1489.8
1759.6
217.3
452.3
1199.9
207.9
130.3
331.4
155.6
993.5
199.2
323.7
477.3
437.3
230.4
653.6
2578.7
92.3
4784.5

lnY
6.2221
5.2092
6.6563
7.4814
4.8694
7.1776
4.7442
7.4724
4.9161
5.0332
6.7839
6.9474
4.5704
5.5897
6.3707
4.6841
4.3770
5.0968
4.6999
6.4772
4.1872
5.3548
5.5943
5.3409
4.8082
6.1041
7.3873
4.1092
7.9563
Average
5.7318
Geom_Mea 308.5138

LnX
6.7652
5.8565
7.1848
8.4896
5.5802
7.7630
5.3594
8.0589
5.3034
5.4849
7.3064
7.4728
5.3811
6.1144
7.0900
5.3373
4.8699
5.8034
5.0473
6.9013
5.2944
5.7800
6.1681
6.0806
5.4397
6.4825
7.8550
4.5248
8.4731

Y*
1.6329
0.5930
2.5207
5.7526
0.4222
4.2453
0.3725
5.7007
0.4423
0.4973
2.8638
3.3723
0.3131
0.8675
1.8945
0.3508
0.2580
0.5299
0.3563
2.1073
0.2134
0.6859
0.8716
0.6764
0.3971
1.4511
5.2361
0.1974
9.2488

lnY*
0.4904
-0.5226
0.9245
1.7497
-0.8623
1.4458
-0.9875
1.7406
-0.8157
-0.6986
1.0521
1.2156
-1.1613
-0.1421
0.6390
-1.0477
-1.3548
-0.6350
-1.0319
0.7454
-1.5446
-0.3770
-0.1375
-0.3909
-0.9235
0.3723
1.6556
-1.6225
2.2245

Model 1*

linear

Y* = a+bX

SUMMARY OUTPUT

TS =

Regression Statistics
Multiple R 0.967578
R Square
0.936207
Adjusted R 0.933844
Standard Er 0.57302
Observatio
29

-sq crit(1)=

33.81333
3.84

ANOVA
df
Regression
Residual
Total

Intercept
X
RSS1 =

SS
MS
F
Significance F
1 130.10768295 130.1077 396.24500503 1.15E-017
27 8.8654933061 0.328352
28 138.97317626

Coefficients Standard Error

0.1413
0.1372
0.0016
0.0001
8.8655

RESIDUAL OUTPUT
ObservationPredicted Y
1 1.559854
2 0.713072
3
2.29949
4 8.098139
5 0.575041
6 3.988764
7 0.489111
8 5.313796
9 0.470165
10 0.535603
11 2.578379
12 3.019718
13 0.496735
14 0.881272
15 2.104142
16 0.481492
17 0.354478

Residuals
0.0730852288
-0.120087569
0.2211952755
-2.34552579
-0.152862719
0.2565684158
-0.11661654
0.3868763165
-0.027823338
-0.03831419
0.2853856069
0.3525478121
-0.183669848
-0.01373123
-0.20963802
-0.130734278
-0.096478244

t Stat
P-value
Lower 95%
1.0302 0.3120560965 -0.14014
19.9059 1.14804E-017 0.001467

18
19
20
21
22
23
24
25
26
27
28
29

0.68349
0.395856
1.766575
0.46721
0.670916
0.922038
0.856681
0.518171
1.210565
4.359691
0.292267
7.968151

-0.153555484
-0.039528045
0.3407169058
-0.253802341
0.0150091368
-0.050471355
-0.180238721
-0.121051506
0.240533723
0.8764322861
-0.09486599
1.2806444997

Model 2*

lnY* = a'+ b"ln X

SUMMARY OUTPUT
alfa=5%

Regression Statistics
Multiple R 0.987887
R Square
0.975921
Adjusted R 0.975029
Standard Er 0.178563
Observatio
29
ANOVA

nificance F

df
Regression
Residual
Total

Upper 95%Lower 95.0%

Upper 95.0%
0.422771 -0.14014 0.422771
0.001804 0.001467 0.001804

Intercept
ln X
RSS2 =

SS
MS
1 34.89234 34.89234
27 0.860891 0.031885
28 35.75323

Coefficients
Standard Error t Stat
-6.2453
0.1917 -32.5818
0.9882
0.0299
33.0806
0.8609

RESIDUAL OUTPUT
ObservationPredicted Y
1 0.440381
2 -0.457611
3 0.855086
4 2.144521
5 -0.730667
6
1.42644
7 -0.948869
8 1.718905
9 -1.004225
10 -0.824878
11 0.975189
12 1.139675
13 -0.927438
14 -0.202764
15 0.761323
16 -0.97076
17 -1.432674

Residuals
0.050001
-0.064976
0.069445
-0.394867
-0.131661
0.01938
-0.038664
0.02168
0.188552
0.126293
0.076948
0.07591
-0.233904
0.060671
-0.122366
-0.076901
0.077879

18
19
20
21
22
23
24
25
26
27
28
29

-0.510113
-1.257357
0.574823
-1.013147
-0.533301
-0.149765
-0.236163
-0.869565
0.161032
1.517398
-1.773717
2.128243

-0.124889
0.225452
0.170581
-0.531406
0.156315
0.012302
-0.154744
-0.053953
0.211289
0.138183
0.151199
0.09625

F
Significance F
1094.323 2.18E-023

P-value Lower 95% Upper 95%Lower 95.0%

Upper 95.0%
3.26E-023 -6.63864 -5.852043 -6.63864 -5.852043
2.18E-023 0.926953 1.049546 0.926953 1.049546

The MacKinnon, White, Davidson (MWD) Test

HH
Consumption
GDP2005
Country N Country Co (US$ Billion)
(US$Billion)
CONS
GDP
1 Australia AUS
503.8
867.2
2 Austria
AUT
182.9
349.5
3 Canada
CAN
777.7
1319.3
4 China
CHN
1774.8
4864.0
5 Denmark DNK
130.2
265.1
6 France
FRA
1309.7
2351.9
7 Finland
FIN
114.9
212.6
8 Germany DEU
1758.7
3161.9
9 Greece
GRC
136.5
201.0
10 Hong Kong HKG
153.4
241.0
11 India
IND
883.5
1489.8
12 Italy
ITA
1040.4
1759.6
13 Ireland
IRL
96.6
217.3
14 Indonesia IDN
267.6
452.3
15 Korea, Rep.KOR
584.5
1199.9
16 Malaysia MYS
108.2
207.9
17 New Zeala NZL
79.6
130.3
18 Norway
NOR
163.5
331.4
19 Philippines PHL
109.9
155.6
20 Russian FedRUS
650.1
993.5
21 Singapore SGP
65.8
199.2
22 South Afric ZAF
211.6
323.7
23 SwitzerlandCHE
268.9
477.3
24 Sweden
SWE
208.7
437.3
25 Thailand THA
122.5
230.4
26 Turkey
TUR
447.7
653.6
27 United Kin GBR
1615.4
2578.7
28 Vietnam
VNM
60.9
92.3
29 Japan
JPN
2853.4
4784.5
Mean

575.2

REGRESSION
Linear Model
Model:
CONS = a + B GDP + e
SUMMARY OUTPUT
Regression
Multiple R
R Square
Adjusted R

Statistics
0.967578
0.936207
0.933844

1053.4

Standard Er 176.7845
Observatio
29
ANOVA
df
Regression
Residual
Total

Intercept
GDP

SS
MS
F
1 12383745 12383745.45244 396.245005028
27 843824.2 31252.74841397
28 13227570

Coefficients
Standard Error
t Stat
P-value
43.59777 42.31965
1.0302016582
0.3120560965
0.504685 0.025354
19.9059037732 1.1480422E-017

RESIDUAL OUTPUT
Observation
Predicted CONS
Residuals
1 481.2366
22.5478
2 219.9926 -37.04867
3 709.4243 68.24179
4 2498.387 -723.627
5
177.408 -47.16025
6 1230.588 79.15489
7 150.8975 -35.97781
8 1639.379 119.3567
9 145.0524 -8.583882
10 165.2408 -11.82045
11 795.4654 88.04539
12 931.6246 108.7659
13 153.2497 -56.66468
14 271.8844 -4.236273
15 649.1567 -64.67621
16 148.5468 -40.33332
17 109.3615 -29.76487
18 210.8659 -47.37398
19 122.1269 -12.19495
20 545.0126 105.1159
21 144.1406 -78.30151
22 206.9869 4.630525
23 284.4614 -15.57111
24
264.298 -55.60613
25 159.8628 -37.34606
26 373.4759 74.20796
27 1345.025 270.3914
28 90.16843 -29.26746
29 2458.284 395.0964

2013

2013

log(CONS)

log(GDP2005)
6.2
5.2
6.7
7.5
4.9
7.2
4.7
7.5
4.9
5.0
6.8
6.9
4.6
5.6
6.4
4.7
4.4
5.1
4.7
6.5
4.2
5.4
5.6
5.3
4.8
6.1
7.4
4.1
8.0

6.8
5.9
7.2
8.5
5.6
7.8
5.4
8.1
5.3
5.5
7.3
7.5
5.4
6.1
7.1
5.3
4.9
5.8
5.0
6.9
5.3
5.8
6.2
6.1
5.4
6.5
7.9
4.5
8.5

5.7

6.3

Significance F
1.14804223978E-017

Lower 95%
-43.2349768316
0.4526638824

Upper 95%
Lower 95.0%
Upper 95.0%
130.4305262976 -43.2349768316 130.430526298
0.5567061986
0.4526638824
0.5567061986

PLOTTING GRAPH

REGRESSION
Model:

log-log Model
log(CONS) = a + b.log(GDP2005) + e

SUMMARY OUTPUT
Regression Statistics
Multiple R
0.987887
R Square
0.975921
Adjusted R Square
0.975029

Standard Error
Observations

0.178563
29

ANOVA
df
Regression
Residual
Total

Intercept
log(GDP2005)

SS
MS
F
Significance F
1 34.89234 34.89234 1094.323 2.18E-023
27 0.860891 0.031885
28 35.75323

Coefficients
Standard Error t Stat
P-value Lower 95%
-0.513575 0.191682 -2.67931 0.012411 -0.906873
0.98825 0.029874 33.08055 2.18E-023 0.926953

RESIDUAL OUTPUT
ObservationPredicted log(CONS)
Residuals
1 6.172148 0.050001
2 5.274155 -0.064976
3 6.586852 0.069445
4 7.876288 -0.394867
5
5.0011 -0.131661
6 7.158206
0.01938
7 4.782897 -0.038664
8 7.450671
0.02168
9 4.727542 0.188552
10 4.906888 0.126293
11 6.706955 0.076948
12 6.871441
0.07591
13 4.804328 -0.233904
14 5.529002 0.060671
15
6.49309 -0.122366
16 4.761007 -0.076901
17 4.299092 0.077879
18 5.221653 -0.124889
19
4.47441 0.225452
20 6.306589 0.170581
21
4.71862 -0.531406
22 5.198465 0.156315
23 5.582001 0.012302
24 5.495603 -0.154744
25 4.862201 -0.053953
26 5.892798 0.211289
27 7.249165 0.138183
28
3.95805 0.151199
29
7.86001
0.09625

++

TESTING FINCTI

++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++

Country N logCONS
Australia
6.7652
Austria
5.8565
Canada
7.1848
China
8.4896
Denmark
5.5802
France
7.7630
Finland
5.3594
Germany
8.0589
Greece
5.3034
Hong Kong
5.4849
India
7.3064
Italy
7.4728
Ireland
5.3811
Indonesia
6.1144
Korea, Rep.
7.0900
Malaysia
5.3373
New Zeala
4.8699
Norway
5.8034
Philippines
5.0473
Russian Fed
6.9013
Singapore
5.2944
South Afric
5.7800
Switzerland
6.1681
Sweden
6.0806
Thailand
5.4397
Turkey
6.4825
United Kin
7.8550
Vietnam
4.5248
Japan
8.4731

Testing log-log vs li

SUMMARY OUTPUT
Regression Statistics
Multiple R
R Square
Adjusted R

nificance F

Upper 95%Lower 95.0%

Upper 95.0%
-0.120276 -0.906873 -0.120276
1.049546 0.926953 1.049546

++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++

Standard Er
Observatio
ANOVA
Regression
Residual
Total

Coefficients
Intercept
lnGDP
DIFF2

RESIDUAL OUTPUT
Observation
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28

++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++
++

29

ESTING FINCTIONAL FORM :: LINEAR vs LOG_LOG Model

The MacKinnon, White, Davidson (MWD) Test

LogGDP
DIFF2
Predicted CONS
antilog(lnY_HAT)
6.2221
2.02
481.24
479.21
5.2092
24.77
219.99
195.23
6.6563
-16.07
709.42
725.49
7.4814
-135.69
2498.39
2634.08
4.8694
28.83
177.41
148.58
7.1776
-54.02
1230.59
1284.60
4.7442
31.45
150.90
119.45
7.4724
-81.64
1639.38
1721.02
4.9161
32.04
145.05
113.02
5.0332
30.02
165.24
135.22
6.7839
-22.61
795.47
818.08
6.9474
-32.71
931.62
964.34
4.5704
31.21
153.25
122.04
5.5897
19.99
271.88
251.89
6.3707
-11.40
649.16
660.56
4.6841
31.68
148.55
116.86
4.3770
35.73
109.36
73.63
5.0968
25.63
210.87
185.24
4.6999
34.38
122.13
87.74
6.4772
-3.16
545.01
548.17
4.1872
32.13
144.14
112.01
5.3548
25.99
206.99
180.99
5.5943
18.86
284.46
265.60
5.3409
20.68
264.30
243.62
4.8082
30.55
159.86
129.31
6.1041
11.06
373.48
362.42
7.3873
-61.90
1345.02
1406.93
4.1092
37.81
90.17
52.36
7.9563
-133.26
2458.28
2591.55

esting log-log vs linear model (MWD TEST)

UMMARY OUTPUT

Regression Statistics
0.9909
0.9819
0.9805

0.1579
29

df

SS
2
35.0791
26 0.647902
28 35.72701

Coefficients
Standard Error
1.5704
0.3481
0.8274
0.0609
-0.0041
0.0014

ESIDUAL OUTPUT
Predicted Y Residuals
6.7102
0.0550
5.7782
0.0783
7.1441
0.0408
8.3204
0.1693
5.4804
0.0999
7.7320
0.0310
5.3660
-0.0065
8.0898
-0.0309
5.5058
-0.2023
5.6109
-0.1260
7.2766
0.0297
7.4536
0.0193
5.2231
0.1580
6.1128
0.0017
6.8885
0.2014
5.3153
0.0220
5.0445
-0.1746
5.6817
0.1217
5.3172
-0.2699
6.9426
-0.0413
4.9023
0.3921
5.8937
-0.1137
6.1213
0.0468
5.9041
0.1766
5.4226
0.0171
6.5752
-0.0927
7.9381
-0.0830
4.8143
-0.2896

MS
F
Significance F
17.5395519715 703.853361972 2.2944E-023
0.0249193268

t Stat
4.5116
13.5907
-2.9192

P-value
Lower 95%
Upper 95%
0.00012
0.85493
2.28594
0.00000
0.70225
0.95252
0.00715
-0.00703
-0.00122

8.7032

-0.2301

Country N CONSUMPTIO GDP

Diff1
Australia
503.8
867.2 -0.00421
Austria
182.9
349.5 -0.11944
Canada
777.7
1319.3
0.02240
China
1774.8
4864.0
0.05289
Denmark
130.2
265.1 -0.17735
France
1309.7
2351.9
0.04296
Finland
114.9
212.6 -0.23370
Germany
1758.7
3161.9
0.04860
Greece
136.5
201.0 -0.24955
Hong Kong
153.4
241.0 -0.20052
India
883.5
1489.8
0.02803
Italy
1040.4
1759.6
0.03451
Ireland
96.6
217.3 -0.22774
Indonesia
267.6
452.3 -0.07637
Korea, Rep.
584.5
1199.9
0.01742
Malaysia
108.2
207.9 -0.23989
New Zeala
79.6
130.3 -0.39557
Norway
163.5
331.4 -0.12957
Philippines
109.9
155.6 -0.33065
Russian Fed
650.1
993.5
0.00578
Singapore
65.8
199.2 -0.25217
South Afric
211.6
323.7 -0.13419
Switzerland
268.9
477.3 -0.06860
Sweden
208.7
437.3 -0.08147
Thailand
122.5
230.4 -0.21211
Turkey
447.7
653.6 -0.03006
United Kin
1615.4
2578.7
0.04500
Vietnam
60.9
92.3 -0.54363
Japan
2853.4
4784.5
0.05279

Testing linear vs log-log (MWD TEST)

SUMMARY OUTPUT
Regression Statistics
Multiple R
0.9693
R Square
0.9396
Adjusted R
0.9349

Standard Er
Observatio

175.3412
29

ANOVA
df
Regression
Residual
Total
Lower 95%
Upper 95%
0.85493
2.28594
0.70225
0.95252
-0.00703
-0.00122

Intercept
GDP
DIFF1

SS
MS
2 12428212 6214106
26
799358 30744.54
28 13227570

CoefficientsStandard Error t Stat

112.2219
70.8371 1.584226
0.4777
0.0337
14.1784
347.4647 288.9215 1.202627

RESIDUAL OUTPUT
Observation Predicted Y
1
525.0112
2
237.6900
3
750.2511
4
2454.2104
5
177.2580
6
1250.7095
7
132.5842
8
1639.6153
9
121.5440
10
157.6926
11
833.6504
12
964.7864
13
136.8825
14
301.7721
15
691.4727
16
128.2083
17
37.0260
18
225.5310
19
71.6650
20
588.8509
21
119.7721
22
220.2537
23
316.3796
24
292.8191
25
148.5716
26
414.0291
27
1359.7389
28
-32.5882

Residuals
-21.2268
-54.7461
27.4150
-679.4502
-47.0103
59.0338
-17.6646
119.1207
14.9245
-4.2722
49.8603
75.6041
-40.2975
-34.1240
-106.9922
-19.9948
42.5706
-62.0390
38.2670
61.2776
-53.9329
-8.6362
-47.4894
-84.1272
-26.0549
33.6547
255.6772
93.4891

29

2416.2169 437.1637

ln
Predicted log(CONS)
6.17636
6.17215
5.39359
5.27416
6.56445
6.58685
7.82340
7.87629
5.17845
5.00110
7.11525
7.15821
5.01660
4.78290
7.40207
7.45067
4.97710
4.72754
5.10740
4.90689
6.67893
6.70696
6.83693
6.87144
5.03207
4.80433
5.60538
5.52900
6.47567
6.49309
5.00090
4.76101
4.69466
4.29909
5.35122
5.22165
4.80506
4.47441
6.30081
6.30659
4.97079
4.71862
5.33266
5.19847
5.65060
5.58200
5.57708
5.49560
5.07432
4.86220
5.92285
5.89280
7.20417
7.24916
4.50168
3.95805
7.80722
7.86001

r =correlation coeff (Y, antilog(lnY_HAT))=

r - sq = r^2 =
0.93711
Model:
SUMMARY OUTPUT

Y = a + b.antilog(LnY-H

Regression Statistics
Multiple R
0.968044
R Square
0.93711
Adjusted R Square
0.934781
Standard Error
175.5291
Observations
29
ANOVA
df
Regression
Residual
Total

Intercept
antilog(LnY_HAT)

1
27
28
Coefficients
37.35703
0.932395

F
Significance F
202.1206 1.43E-016

P-value Lower 95% Upper 95%Lower 95.0%

Upper 95.0%
0.125232 -33.38575 257.8296 -33.38575 257.8296
9.56E-014 0.408459 0.546973 0.408459 0.546973
0.239959 -246.422 941.3514 -246.422 941.3514

antilog(lnY_HAT))=

0.968044

= a + b.antilog(LnY-HAT)

SS
MS
F
Significance F
12395687 12395687 402.3206 9.47E-018
831882.7 30810.47
13227570
Standard Error t Stat
P-value Lower 95% Upper 95%Lower 95.0%
Upper 95.0%
42.20806 0.885068 0.383934 -49.24676 123.9608 -49.24676 123.9608
0.046485 20.05793 9.47E-018 0.837015 1.027774 0.837015 1.027774

Table 4.1 Infant mortality, life expectancy and public expenditure on health
1
2

Australia
Austria
Belgium
Canada
France
Germany
Ireland
Italy
Japan
Netherlands
New Zealand
Norway
Spain
Sweden
Switzerland
UK
USA
Denmark
Finland
South Africa
Singapore
Malaysia
Indonesia
Bangladesh
Mean
NA = Not Available

Life expenctancy
Infant Mortality (death
(average in years)
per 100 live births)
1999
1960
78.78
20.2
77.93
37.5
78.03
31.2
79.03
27.3
78.51
27.4
76.99
35
76.12
29.3
78.29
43.9
80.63
30.4
77.65
17.9
77.39
22.6
78.48
18.9
77.91
43.7
79.26
16.6
79.56
21.1
77.25
22.5
76.91
26
75.87
21.5
77.26
21.4
48.47
88.6
77.55
34.8
72.34
70.6
65.72
137.8
60.74
154.8
75.28

41.71

expenditure on health
3

Public Health
Infant Mortality (death Expenditure (% of
Public Health
per 100 live births)
GDP)
Expenditure (% of GDP)
1999
1960
1998
4.9
2.4
5.9
4.4
3.1
5.8
5.38
2.1
7.9
5.3
2.3
6.4
4.8
2.5
7.3
4.83
3.2
7.9
5.5
3
4.7
5.43
3
5.6
3.6
1.8
5.9
5.1
1.3
6
5.23
3.5
6.2
4.02
2.6
7.4
5.3
0.9
5.4
3.6
3.4
6.7
4.56
2
7.6
5.7
3.3
5.6
6.9
1.3
5.8
4.65
3.2
6.8
4.08
2.3
5.2
61.52
NA
3.3
3.2
NA
1.2
7.9
NA
1.4
41.92
NA
0.7
61.2
NA
1.7
11.21

2.48

5.35

Table 3.2 Data on Aviation Demand and Revenue

1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
Change

X = Number of
Passengers (million)
1135
1146
1142
1233
1304
1391
1457
1471
1562
1672
1640
1639
1691
1887

Y = Revenue per
passenger-km (US
cents)
9.6
9.2
9.2
9.2
9.4
9.1
8.8
8.6
8.3
8.3
7.9
7.8
8
8.2

0.66

-0.15

ln(X)
7.034
7.044
7.041
7.117
7.173
7.238
7.284
7.294
7.354
7.422
7.402
7.402
7.433
7.543

ln(Y)
2.262
2.219
2.219
2.219
2.241
2.208
2.175
2.152
2.116
2.116
2.067
2.054
2.079
2.104