Question

d. What are the major differences between simultaneous-equation and Box–Jenkins

approaches to economic forecasting?​

Answer 1

Answer:

Simultaneous equation approach includes more than one regression equation that is based on some economic theory

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Answer 2

d. What are the major differences between simultaneous-equation and Box–Jenkins

approaches to economic forecasting? in the March 1, 1984, issue of The Wall Street Journal. They relate to the advertising budget (in millions of dollars) of 21 firms for 1983 and millions of impressions retained per week by the viewers of the products of these firms. The data are based on a survey of 4000 adults in which users of the products were asked to cite a commercial they had seen for the product category in the past week.
a. Plot impressions on the vertical axis and advertising expenditure on the horizontal axis.
b. What can you say about the nature of the relationship between the two variables?
c. Looking at your graph, do you think it pays to advertise? Think about all those commercials shown on Super Bowl Sunday or during the World Series.
Note: We will explore further the data given in Table 1.6 in subsequent chapters.
TABLE 1.6
Impact of Advertising Expenditure