Estimate the above equation by pooled ols
C10 Use the data in AIRFARE.RAW for this exercise. We are interested in estimating the model log( fareit) 5 t 1 1concenit 1 2log(disti) 1 3[log(disti)]2 1 ai 1 uit , t 5 1, …, 4, where t means that we allow for different year intercepts. (i) Estimate the above equation by pooled OLS, being sure to include year dummies. If concen 5 .10, what is the estimated percentage increase in fare? (ii) What is the usual OLS 95% confidence interval […]