Use the dataset Pizza.xls Now answer the following: (a) Estimate and write the regression model in which pizza expenditu

[answerhappygod]

Use the dataset Pizza.xls Now answer the following:
(a) Estimate and write the regression model in which pizza
expenditure depends only on income (INC). Before estimating the
model create a new variable INC = INCOME/1000
(income is measured in $1000).
(b) Check for heteroskedasticity for the model in part(a) using BP
test.
(c) Estimate the model in which pizza expenditure depends on AGE,
INC, and AGE ×INC.
Comment on the signs and significance of the parameter estimates.
Is there a significant
interaction effect between AGE and INC?
(d) Compute point estimates and 95% interval estimates of the
marginal propensity to spend
on pizza for individuals of age 20 and 40. Comment on these
estimates.
(e) Compute VIF for the INC variable and comment on it.
(f) Finally perform a RESET test. What can you conclude?