Posted: December 28th, 2021

Estimate average annual household expenditure in each age- Marketing Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage ment

Estimate average annual household expenditure in each age- Marketing Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage ment

Consumer Demographics Assignment-

1. Presented below are the results of quadratic regression analysis (y= a + bx – cx²) of weekly household income (y) and expenditure (y) according to the age of the household head (x) in Australia in 2003-2004. Using the information provided:

1) Estimate weekly household income (y) and expenditure (y) if the age of the household head (x) was 25, 30, 35, 40, 45, 50, 55, 60, 65 and 70 years (Note: Using Excel is recommended for this question).

2) Using the results of the estimation in part 1), draw the Hump-shaped graphs of income and expenditure according to the ages of household head in one chart (Note: Using Excel is recommended for this question).

3) Discuss Modigliani’s Life-cycle Hypothesis and explain life-cycle humps in household income and household expenditure.

4) Referring to the Life-Cycle Hypothesis discussed in 3), analyse the shapes and patterns of weekly household income and expenditure according to the ages of household head in Australia in 2003-2004.

	a Intercept	b Do You Have Experts to Write My Paper Urgently? Yes! Our experienced writers can tackle any paper, even with tight deadlines like 6 hours. Specializing in diverse subjects, they ensure your assignment is top-notch. If you’re searching for the best site to write your paper fast, we’re your solution, with over a decade of expertise across academic levels. Coefficient of x	c Coefficient of x2
Average household weekly income	-121.40	75.56	0.85
Average household weekly expenditure	-114.35	71.08	0.85

2. Given below is quintile distribution of average household weekly expenditure. Estimate the Gini Coefficient.

Quintile	Number of Households	Average weekly Household Expenditure ($)
Q1	2,000	605
Q2	2,000	810
Q3	2,000	1,150
Q4	2,000	1,379
Q5	2,000	2,265

3. Presented below are the US Department of Commerce (DOC) household expenditure equivalence measures and average number of people in household and annual household expenditure by the age of household head.

1) Estimate average annual household expenditure in each  age  group  of  household  head taking into account the average number of people in the household and the US Department of Commerce (DOC) equivalence scales.

2) Discuss the rationale of using equivalent units in estimating average annual household expenditure.

Household size	US DOC equivalent units	Increment
1	1.00
2	1.28	0.28
3	1.57	0.29
4	2.01	0.44
5	2.37	0.36

 

Age of household head	Average number of people in household	Annual household expenditure
<25	2.0	30,320
25-34	2.8	49,510
35-44	3.2	56,150
45-54	2.7	60,160
55-64	2.1	54,280
65-74	1.8	44,920
>74	1.5	31,240

4. Write a short essay of 800 – 1,000 words on “The impacts of population growth on food consumption, economic growth, income per capita growth, and market growth”. You are expected to refer to at least four additional references other than the text book chapters and lecture notes. It is expected that a suitable referencing style (including in-text references) is to be used, such as Harvard referencing, American Psychological Association (APA) referencing style, or a style suitable in your disciplinary areas. The essay will be assessed by its clarity, relevance and extensiveness of reference.

Write My Paper