Description

Henri Theil's textile consumption data modified.

Usage

Format

A data set with 17 observations in relation to the following five variables:

obs

Year.

consume

Volume of textile consumption per capita (base 1925=100).

income

Real Income per capita (base 1925=100).

relprice

Relative price of textiles (base 1925=100).

twentys

Dummy variable that differentiates between the twenties and thirties.

Details

This data set is developed based on the original Henri Theil's textile consumption data. With the goal of showing the treatment of the detection of collinearity when non-quantitative variables exists in the multiple linear regression, a new dummy variable has been incorporated distinguishing between the twenties and thirties.

References

H. Theil (1971). Principles of Econometrics. John Wiley & Sons, New York.

Examples