Estimate an appropriate demand function for the assigned data using econometric methods and interpret your results for ONE of the following: Meat and fish Fruit and vegetables Tea Coffee Beer Wine Leisure Travel Present your statistical analysis and results using relevant tests for your models with clear explanation of the tested hypotheses and decision rules. Provide justification for your choice of regression models and demonstrate a coherent interpretation of your results with proper presentation. The Empirical Project will be assessed as follows: • Introduction (5 marks) • Choice of functional forms for the regression (10 marks) • Finding the preferred model (15 marks) • Examination of homogeneity condition and use of Slutsky equation. (10 marks) • Additional tests (15 marks) • Presentation of the preferred model (10 marks) • Interpretation of the preferred model (10 marks) • Discussion and comparison of the obtained results with the literature (15 marks) • Presentation (structure and clarity) (10 marks)
