Estimate the parameters in the model

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Reference no: EM13125783

(a) Using LAD, estimate the parameters in the following model:

EXPEND_i = M₁ + M₂AGE_i + M₃OWNRENT_i + M₄INCOME_i + M₅INCOME_i² + V_i:

(b) Obtain standard errors of your estimates in part (a) using the Wild bootstrap with (B = 9; 999).

Reference no: EM13125783

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