The Distributed Lag Model Relating Orange Juice Prices to the Orlando

question 38

Essay

The distributed lag model relating orange juice prices to the Orlando weather reported in
the text was of the form $$\% C h g P _ { t } = \beta _ { 0 } + \beta _ { 1 } F D D _ { t } + \beta _ { 2 } F D D _ { t - 1 } + \beta _ { 3 } F D D _ { t - 2 } + \ldots + \beta _ { 19 } F D D _ { t - 18 } + u _ { t }$$ (a)Suppose that an agricultural economist tells you that a freeze in December is more
harmful than a freeze in the other months.How would you modify the regression to
incorporate this effect? How would you test for this December effect?

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Definitions:

Media Relations

The practice of managing the spread of information between an organization or individual and the public via the media.

Race Together

An initiative aimed at encouraging discussions on race relations among individuals, often within the context of a brand or organization's outreach efforts.

Racial Relations

The dynamics and quality of interactions between different racial groups, including aspects of cooperation, conflict, and understanding.

Retail Setting

A business venue where consumer goods are sold directly to the public, such as stores, malls, and online marketplaces.