Consider the following EVIEWS output for monthly data from 1990 to 2008 on US petrol consumption, prices, income etc.
The variables are defined as
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LPETCONS_G = Natural Log Petrol Consumption per head (Gallons)
LRPETPRICE = Natural Log Real Average Monthly Petrol Price Per Gallon
LRINCOME = Natural Log Real Monthly US Income per head
D_SPRING – Dummy= 1 when month = March, April, May , (0 otherwise)
D_SUMMER – Dummy= 1 when month = June, July, August, (0 otherwise)
D_AUTUMN – Dummy= 1 when month = September, October, November, (0 otherwise)
- Carefully interpret and discuss the Eviews regression output and regression model of the petrol consumption?
- You should also state your opinion as an analyst of the company producing or selling petrol