Instruction 13 -Referring to Instruction 13

question 87

Short Answer

Instruction 13.33
An econometrician is interested in evaluating the relation of demand for building materials to mortgage rates in Sydney and Melbourne. He believes that the appropriate model is
$\begin{array}{l}Y = 10 + 5 X _ { 1 } + 8 X _ { 2 }\\\\\text { where } \begin{aligned}X _ { 1 } & = \text { mortgage rate in } \% \\X _ { 2 } & = 1 \text { if Sydney, } 0 \text { if Melbourne } \\Y & = \text { demand in } \$ 100 \text { per capita }\end{aligned}\end{array}$
-Referring to Instruction 13.33,the predicted demand in Sydney when the mortgage rate is 10% is ___________ per capita.

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