Discuss which economic theories or relationships you have studied up until now (not just in this class – in all your economics classes) that could be estimated using the multiple linear regression model. Explain your rationale. Select one or more of the theories or relationships you discussed above and determine what data you would need to estimate such a relationship. Provide examples to support your response. Discuss how the problem you research in the e-Activity was solved using estimation and hypothesis testing. Determine if you would have approached the problem in the same way, and if not, what you might have done differently.

Use the Internet to find and research a current example of how estimation and hypothesis testing were used to solve a problem. Be prepared to discuss. (e-Activity)