Table 1.

1: Data on Y (Personal
consumption Expenditure) and X (Gross
Domestic Product, 1960 - 2005), both in
200 billins of Dollars

Year PCE(Y) GDP(X)

1960 1597.40 2501.80
1961 1630.30 2560.00
1962 1711.10 2715.20
1963 1781.60 2834.00
1964 1888.60 2998.60
1965 2007.70 3191.10
1966 2121.80 3399.10
1967 2185.00 3484.60
1968 2310.50 3652.70
1969 2396.40 3765.40
1970 2451.90 3771.90
1971 2545.50 3898.60
1972 2701.30 4105.00
1973 2833.80 4341.50
1974 2812.30 4319.60
1975 2876.90 4311.20
1976 3035.50 4540.90
1977 3164.10 4750.50
1978 3303.10 5015.00
1979 3383.40 5173.40
1980 3374.10 5161.70
1981 3422.20 5291.70
1982 3470.30 5189.30
1983 3668.60 5423.80
1984 3863.30 5813.60
1985 4064.00 6053.70
1986 4228.90 6263.60
1987 4369.80 6475.10
1988 4546.90 6742.70
1989 4675.00 6981.40
1990 4770.30 7112.50
1991 4778.40 7100.50
1992 4934.80 7336.60
1993 5099.80 7532.70
1994 5290.70 7835.50
1995 5433.50 8031.70
1996 5619.40 8328.90
1997 5831.80 8703.50
1998 6125.80 9066.90
1999 6438.60 9470.30
2000 6739.40 9817.00
2001 6910.40 9890.70
2002 7099.30 10048.80
2003 7295.30 10301.00
2004 7577.10 10703.50
2005 7841.20 11048.60
 TABLE 1.2 Investment Data for Four Companies, 1935–1954
Observati I F-1 C-1 Observati I F-1 C-1
GE US
1935 33.1 1170.6 97.8 1935 209.9 1362.4 53.8
1936 45 2015.8 104.4 1936 355.3 1807.1 50.5
1937 77.2 2803.3 118 1937 469.9 2673.3 118.1
1938 44.6 2039.7 156.2 1938 262.3 1801.9 260.2
1939 48.1 2256.2 172.6 1939 230.4 1957.3 312.7
1940 74.4 2132.2 186.6 1940 361.6 2202.9 254.2
1941 113 1834.1 220.9 1941 472.8 2380.5 261.4
1942 91.9 1588 287.8 1942 445.6 2168.6 298.7
1943 61.3 1749.4 319.9 1943 361.6 1985.1 301.8
1944 56.8 1687.2 321.3 1944 288.2 1813.9 279.1
1945 93.6 2007.7 319.6 1945 258.7 1850.2 213.8
1946 159.9 2208.3 346 1946 420.3 2067.7 232.6
1947 147.2 1656.7 456.4 1947 420.5 1796.7 264.8
1948 146.3 1604.4 543.4 1948 494.5 1625.8 306.9
1949 98.3 1431.8 618.3 1949 402.1 1667 351.1
1950 93.5 1610.5 647.4 1950 418.8 1677.4 357.8
1951 135.2 1819.4 671.3 1951 588.2 2289.5 341.1
1952 157.3 2079.7 726.1 1952 645.2 2159.4 444.2
1953 179.5 2371.6 800.3 1953 641 2031.3 623.6
1954 189.6 2759.9 888.9 1954 459.3 2115.5 669.7
GM WEST
1935 317.6 3078.5 2.8 1935 12.93 191.5 1.8
1936 391.8 4661.7 52.6 1936 25.9 516 0.8
1937 410.6 5387.1 156.9 1937 35.05 729 7.4
1938 257.7 2792.2 209.2 1938 22.89 560.4 18.1
1939 330.8 4313.2 203.4 1939 18.84 519.9 23.5
1940 461.2 4643.9 207.2 1940 28.57 628.5 26.5
1941 512 4551.2 255.2 1941 48.51 537.1 36.2
1942 448 3244.1 303.7 1942 43.34 561.2 60.8
1943 499.6 4053.7 264.1 1943 37.02 617.2 84.4
1944 547.5 4379.3 201.6 1944 37.81 626.7 91.2
1945 561.2 4840.9 265 1945 39.27 737.2 92.4
1946 688.1 4900 402.2 1946 53.46 760.5 86
1947 568.9 3526.5 761.5 1947 55.56 581.4 111.1
1948 529.2 3245.7 922.4 1948 49.56 662.3 130.6
1949 555.1 3700.2 1020.1 1949 32.04 583.8 141.8
1950 642.9 3755.6 1099 1950 32.24 635.2 136.7
1951 755.9 4833 1207.7 1951 54.38 732.8 129.7
1952 891.2 4924.9 1430.5 1952 71.78 864.1 145.5
1953 1304.4 6241.7 1777.3 1953 90.08 1193.5 174.8
1954 1486.7 5593.6 2226.3 1954 68.6 1188.9 213.5
TABLE 1.3: CPI in Seven Industrial Countries, 1980–2005 (1982–1984
= 100) ( Source: Economic Report of the President, 2007, Table 108, p.
354).
Year U.S. Canada Japan FranceGermany Italy U.K.
1980 82.4 76.1 91 72.2 86.7 63.9 78.5
1981 90.9 85.6 95.3 81.8 92.2 75.5 87.9
1982 96.5 94.9 98.1 91.7 97 87.8 95.4
1983 99.6 100.4 99.8 100.3 100.3 100.8 99.8
1984 103.9 104.7 102.1 108 102.7 111.4 104.8
1985 107.6 109 104.2 114.3 104.8 121.7 111.1
1986 109.6 113.5 104.9 117.2 104.6 128.9 114.9
1987 113.6 118.4 104.9 121.1 104.9 135.1 119.7
1988 118.3 123.2 105.6 124.3 106.3 141.9 125.6
1989 124 129.3 108 128.7 109.2 150.7 135.4
1990 130.7 135.5 111.4 132.9 112.2 160.4 148.2
1991 136.2 146.1 115 137.3 116.3 170.5 156.9
1992 140.3 145.3 117 140.4 122.2 179.5 162.7
1993 144.5 1477.9 118.5 143.4 127.6 187.7 165.3
1994 148.2 148.2 119.3 145.8 131.1 195.3 169.3
1995 152.4 151.4 119.2 148.4 133.3 205.6 175.2
1996 156.9 153.8 119.3 151.4 135.3 213.8 179.4
1997 160.5 156.3 121.3 153.2 137.8 218.2 185.1
1998 163 157.8 122.2 154.2 139.1 225.5 191.4
1999 166.6 160.5 121.8 155 140 226.2 194.3
2000 172.2 164.9 121 157.6 142 231.9 200.1
2001 177.1 169.1 120.1 160.2 144.8 238.3 203.6
2002 179.9 172.9 119 163.3 146.7 244.3 207
2003 184 177.7 118.7 166.7 148.3 250.8 213
2004 188.9 181 118.7 170.3 150.8 256.3 219.4
2005 195.3 184.9 118.3 173.2 153.7 261.3 225.6
TABLE 1.1 U.S. Egg Production
State Y1 Y2 X1 X2 State Y1 Y2 X1 X2
AL 2,206 2,186 92.7 91.4 MT 172 164 68 66
AK 0.7 0.7 151 149 NE 1202 1400 50.3 48.9
AZ 73 74 61 56 NV 2.2 1.8 53.9 52.7
AR 3,620 3,737 86.3 91.8 NH 43 49 109 104
CA 7,472 7,444 63.4 58.4 NJ 442 491 85 83
CO 788 873 77.8 73 NM 283 302 74 70
CT 1,029 948 106 104 NY 975 987 68.1 64
DE 168 164 117 113 NC 3033 3045 82.8 78.7
FL 2,586 2,537 62 57.2 NC 51 45 55.2 48
GA 4,302 4,301 80.6 80.8 OH 4667 4637 59.1 54.7
HI 227.5 224.5 85 85.5 OK 869 830 101 100
ID 187 203 79.1 72.9 OR 652 686 77 74.6
IL 793 809 65 70.5 PA 4976 5130 61 52
IN 5,445 5,290 62.7 60.1 RI 53 50 102 99
IA 2,151 2,247 56.5 53 SC 1422 1420 70.1 65.9
KS 404 389 54.5 47.8 SD 435 602 48 45.8
KY 412 483 67.7 73.5 TN 277 279 71 80.7
LA 273 254 115 115 TX 3317 3356 76.7 72.6
ME 1069 1070 101 97 UT 456 486 64 59
MD 885 898 76.6 75.4 VT 31 30 106 102
MA 235 237 105 102 VA 943 988 85.3 81.2
MI 1406 1396 58 53.8 WA 1287 1313 74.1 71.5
MN 2499 2697 57.7 54 WV 136 174 104 109
MS 1434 1468 87.8 86.7 WI 910 873 60.1 54
MO 1580 1622 55.4 51.5 WY 1.7 1.7 83 83

TABLE 1.4 Exchange Rates for Nine Countries: 1985–2006

Year Australia Canada China Japan Mexico Korea Sweden Switzerland UK
1985 0.7003 1.3659 2.9434 238.47 0.257 872.45 8.6032 2.4552 1.2974
1986 0.6709 1.3896 3.4616 168.35 0.612 884.6 7.1273 1.7979 1.4677
1987 0.7014 1.3259 3.7314 144.6 1.378 826.16 6.3469 1.4918 1.6398
1988 0.7841 1.2306 3.7314 128.17 2.273 734.52 6.137 1.4643 1.7813
1989 0.7919 1.1842 3.7673 138.07 2.461 674.13 6.4559 1.6369 1.6382
1990 0.7807 1.1668 4.7921 145 2.813 710.64 5.9231 1.3901 1.7841
1991 0.7787 1.146 5.3337 134.59 3.018 736.73 6.0521 1.4356 1.7674
1992 0.7352 1.2085 5.5206 126.78 3.095 784.66 5.8258 1.4064 1.7663
1993 0.6799 1.2902 5.7795 111.08 3.116 805.75 7.7956 1.4781 1.5016
1994 0.7316 1.3664 8.6397 102.18 3.385 806.93 7.7161 1.3667 1.5319
1995 0.7407 1.3725 8.37 93.96 6.447 772.69 7.1406 1.1812 1.578
1996 0.7828 1.3638 8.3389 108.78 7.6 805 6.7082 1.2361 1.5607
1997 0.7437 1.3849 8.3193 121.06 7.918 953.19 7.6446 1.4514 1.6376
1998 0.6291 1.4836 8.3008 130.99 9.152 1,400.40 7.9522 1.4506 1.6573
1999 0.6454 1.4858 8.2783 113.73 9.553 1,189.84 8.274 1.5045 1.6172
2000 0.5815 1.4855 8.2784 107.8 9.459 1,130.90 9.1735 1.6904 1.5156
2001 0.5169 1.5487 8.277 121.57 9.337 1,292.02 10.3425 1.6891 1.4396
2002 0.5437 1.5704 8.2771 125.22 9.663 1,250.31 9.7233 1.5567 1.5025
2003 0.6524 1.4008 8.2772 115.94 10.793 1,192.08 8.0787 1.345 1.6347
2004 0.7365 1.3017 8.2768 108.15 11.29 1,145.24 7.348 1.2428 1.833
2005 0.7627 1.2115 8.1936 110.11 10.894 1,023.75 7.471 1.2459 1.8204
2006 0.7535 1.134 7.9723 116.31 10.906 954.32 7.3718 1.2532 1.8434
Source: Economic Report of the President, 2007, Table B–110, p. 356
TABLE 1.5: Seasonally Adjusted M1 Supply: 1959:01–1999:07 TABLE 1.6: Impact of Advertising Expenditu
(billions of dollars) {Source: Board of Governors, Federal Reserve (Source: http://lib.stat.cmu.edu/
Bank, USA). DASL/Datafiles/tvadsdat.html)
1959:01 138.89 139.39 139.74 139.69 140.68 141.17 Impressions
Firm
1959:07 141.70 141.90 141.01 140.47 140.38 139.95 (millions)
1960:01 139.98 139.87 139.75 139.56 139.61 139.58 Miller Lite 32.1
1960:07 140.18 141.31 141.18 140.92 140.86 140.69 Pepsi 99.6
1961:01 141.06 141.60 141.87 142.13 142.66 142.88 Stroh’s 11.7
1961:07 142.92 143.49 143.78 144.14 144.76 145.20 Fed’l Express 21.9
1962:01 145.24 145.66 145.96 146.40 146.84 146.58 Burger King 60.8
1962:07 146.46 146.57 146.30 146.71 147.29 147.82 Coca-Cola 78.6
1963:01 148.26 148.90 149.17 149.70 150.39 150.43 McDonald’s 92.4
1963:07 151.34 151.78 151.98 152.55 153.65 153.29 MCl 50.7
1964:01 153.74 154.31 154.48 154.77 155.33 155.62 Diet Cola 21.4
1964:07 156.80 157.82 158.75 159.24 159.96 160.30 Ford 40.1
1965:01 160.71 160.94 161.47 162.03 161.70 162.19 Levi’s 40.8
1965:07 163.05 163.68 164.85 165.97 166.71 167.85 Bud Lite 10.4
1966:01 169.08 169.62 170.51 171.81 171.33 171.57 ATT/Bell 88.9
1966:07 170.31 170.81 171.97 171.16 171.38 172.03 Calvin Klein 12
1967:01 171.86 172.99 174.81 174.17 175.68 177.02 Wendy’s 29.2
1967:07 178.13 179.71 180.68 181.64 182.38 183.26 Polaroid 38
1968:01 184.33 184.71 185.47 186.60 187.99 189.42 Shasta 10
1968:07 190.49 191.84 192.74 194.02 196.02 197.41 Meow Mix 12.3
1969:01 198.69 199.35 200.02 200.71 200.81 201.27
1969:07 201.66 201.73 202.10 202.90 203.57 203.88
1970:01 206.22 205.00 205.75 206.72 207.22 207.54
1970:07 207.98 209.93 211.80 212.88 213.66 214.41
1971:01 215.54 217.42 218.77 220.00 222.02 223.45
1971:07 224.85 225.58 226.47 227.16 227.76 228.32
1972:01 230.09 232.32 234.30 235.58 235.89 236.62
1972:07 238.79 240.93 243.18 245.02 246.41 249.25
1973:01 251.47 252.15 251.67 252.74 254.89 256.69
1973:07 257.54 257.76 257.86 259.04 260.98 262.88
1974:01 263.76 265.31 266.68 267.20 267.56 268.44
1974:07 269.27 270.12 271.05 272.35 273.71 274.20
1975:01 273.90 275.00 276.42 276.17 279.20 282.43
1975:07 283.68 284.15 285.69 285.39 286.83 287.07
1976:01 288.42 290.76 292.70 294.66 295.93 296.16
1976:07 297.20 299.05 299.67 302.04 303.59 306.25
1977:01 308.26 311.54 313.94 316.02 317.19 318.71
1977:07 320.19 322.27 324.48 326.40 328.64 330.87
1978:01 334.40 335.30 336.96 339.92 344.86 346.80 19. Oscar Meyer 23.4 9.2
1978:07 347.63 349.66 352.26 353.35 355.41 357.28
1979:01 358.60 359.91 362.45 368.05 369.59 373.34 20. Crest 71.1 32.4
1979:07 377.21 378.82 379.28 380.87 380.81 381.77
1980:01 385.85 389.70 388.13 383.44 384.60 389.46 21. Kibbles ‘N Bits 4.4 6.1
1980:07 394.91 400.06 405.36 409.06 410.37 408.06
1981:01 410.83 414.38 418.69 427.06 424.43 425.50
1981:07 427.90 427.85 427.46 428.45 430.88 436.17
1982:01 442.13 441.49 442.37 446.78 446.53 447.89
1982:07 449.09 452.49 457.50 464.57 471.12 474.30
1983:01 476.68 483.85 490.18 492.77 499.78 504.35
1983:07 508.96 511.60 513.41 517.21 518.53 520.79
1984:01 524.40 526.99 530.78 534.03 536.59 540.54
1984:07 542.13 542.39 543.86 543.87 547.32 551.19
1985:01 555.66 562.48 565.74 569.55 575.07 583.17
1985:07 590.82 598.06 604.47 607.91 611.83 619.36
1986:01 620.40 624.14 632.81 640.35 652.01 661.52
1986:07 672.20 680.77 688.51 695.26 705.24 724.28
1987:01 729.34 729.84 733.01 743.39 746.00 743.72
1987:07 744.96 746.96 748.66 756.50 752.83 749.68
1988:01 755.55 757.07 761.18 767.57 771.68 779.10
1988:07 783.40 785.08 784.82 783.63 784.46 786.26
1989:01 784.92 783.40 782.74 778.82 774.79 774.22
1989:07 779.71 781.14 782.20 787.05 787.95 792.57
1990:01 794.93 797.65 801.25 806.24 804.36 810.33
1990:07 811.80 817.85 821.83 820.30 822.06 824.56
1991:01 826.73 832.40 838.62 842.73 848.96 858.33
1991:07 862.95 868.65 871.56 878.40 887.95 896.70
1992:01 910.49 925.13 936.00 943.89 950.78 954.71
1992:07 964.60 975.71 988.84 1004.34 1016.04 1024.45
1993:01 1030.90 1033.15 1037.99 1047.47 1066.22 1075.61
1993:07 1085.88 1095.56 1105.43 1113.80 1123.90 1129.31
1994:01 1132.20 1136.13 1139.91 1141.42 1142.85 1145.65
1994:07 1151.49 1151.39 1152.44 1150.41 1150.44 1149.75
1995:01 1150.64 1146.74 1146.52 1149.48 1144.65 1144.24
1995:07 1146.50 1146.10 1142.27 1136.43 1133.55 1126.73
1996:01 1122.58 1117.53 1122.59 1124.52 1116.30 1115.47
1996:07 1112.34 1102.18 1095.61 1082.56 1080.49 1081.34
1997:01 1080.52 1076.20 1072.42 1067.45 1063.37 1065.99
1997:07 1067.57 1072.08 1064.82 1062.06 1067.53 1074.87
1998:01 1073.81 1076.02 1080.65 1082.09 1078.17 1077.78
1998:07 1075.37 1072.21 1074.65 1080.40 1088.96 1093.35
1999:01 1091.00 1092.65 1102.01 1108.40 1104.75 1101.11
1999:07 1099.53 1102.40 1093.46
act of Advertising Expenditure
.stat.cmu.edu/
vadsdat.html)
Expenditure (Millions
of 1983 dollars)
50.1
74.1
19.3
22.9
82.4
40.1
185.9
26.9
20.4
166.2
27
45.6
154.9
5
49.7
26.9
5.7
7.6
 Y↓ X→ 80 100 120 140 160 180 200 220
Weekly family 55 65 79 80 102 110 120 135
consumption
expenditure Y, $
60 70 84 93 107 115 136 137
65 74 90 95 110 120 140 140
70 80 94 103 116 130 144 152
75 85 98 108 118 135 145 157
88 113 125 140 160
115 162
Total 325 462 445 707 678 750 685 1043
Conditional
means of Y, 65 77 89 101 113 125 137 149
E(Y |X )
240 260
137 150
145 152
155 175
165 178
175 180
189 185
191
966 1211

161 173
 TABLE 2.3: Models Linear Regression Models
Model Linear in Parameters? Model Linear in Variables?
Yes No
Yes LRM LRM
No NLRM NLRM
TABLE 2.4: A Random TABLE 2.5: Another Random TABLE 2.6: Mean Hourly Wage
Sample from the Population Sample from the Population of Arthur S. Goldberger, Introducto
of Table 2.1 Table 2.1 Harvard University Press, Cambr
1.1, p. 5)

Y X Y X Years of Schooling
70 80 55 80 6
65 100 88 100 7
90 120 90 120 8
95 140 80 140 9
110 160 118 160 10
115 180 120 180 11
120 200 145 200 12
140 220 135 220 13
155 240 145 240 14
150 260 175 260 15
16
17
18
2.6: Mean Hourly Wage by Education (Source:
. Goldberger, Introductory Econometrics,
University Press, Cambridge, Mass., 1998, Table

Mean Wage, $ Number of People

4.4567 3
5.77 5
5.9787 15
7.3317 12
7.3182 17
6.5844 27
7.8182 218
7.8351 37
11.0223 56
10.6738 13
10.8361 70
13.615 24
13.531 31
TABLE 2.7: Labor Force Participation Data for U.S. for 1980–2006 (Source: Economic
Report of the President, 2007).
Year CLFPRM1 CLFPRF2 UNRM3 UNRF4 AHE825 AHE6
1980 77.40 51.50 6.90 7.40 7.99 6.84
1981 77.00 52.10 7.40 7.90 7.88 7.43
1982 76.60 52.60 9.90 9.40 7.86 7.86
1983 76.40 52.90 9.90 9.20 7.95 8.19
1984 76.40 53.60 7.40 7.60 7.95 8.48
1985 76.30 54.50 7.00 7.40 7.91 8.73
1986 76.30 55.30 6.90 7.10 7.96 8.92
1987 76.20 56.00 6.20 6.20 7.86 9.13
1988 76.20 56.60 5.50 5.60 7.81 9.43
1989 76.40 57.40 5.20 5.40 7.75 9.80
1990 76.40 57.50 5.70 5.50 7.66 10.19
1991 75.80 57.40 7.20 6.40 7.58 10.50
1992 75.80 57.80 7.90 7.00 7.55 10.76
1993 75.40 57.90 7.20 6.60 7.52 11.03
1994 75.10 58.80 6.20 6.00 7.53 11.32
1995 75.00 58.90 5.60 5.60 7.53 11.64
1996 74.90 59.30 5.40 5.40 7.57 12.03
1997 75.00 59.80 4.90 5.00 7.68 12.49
1998 74.90 59.80 4.40 4.60 7.89 13.00
1999 74.70 60.00 4.10 4.30 8.00 13.47
2000 74.80 59.90 3.90 4.10 8.03 14.00
2001 74.40 59.80 4.80 4.70 8.11 14.53
2002 74.10 59.60 5.90 5.60 8.24 14.95
2003 73.50 59.50 6.30 5.70 8.27 15.35
2004 73.30 59.20 5.60 5.40 8.23 15.67
2005 73.30 59.30 5.10 5.10 8.17 16.11
2006 73.50 59.40 4.60 4.60 8.23 16.73
TABLE 2.8 Food and Total Expenditure (Rupees)
Observation Food Total Observation Food Total
Expenditure Expenditure Expenditure Expenditure
1 217 382 29 390 655
2 196 388 30 385 662
3 303 391 31 470 663
4 270 415 32 322 677
5 325 456 33 540 680
6 260 460 34 433 690
7 300 472 35 295 695
8 325 478 36 340 695
9 336 494 37 500 695
10 345 516 38 450 720
11 325 525 39 415 721
12 362 554 40 540 730
13 315 575 41 360 731
14 355 579 42 450 733
15 325 585 43 395 745
16 370 586 44 430 751
17 390 590 45 332 752
18 420 608 46 397 752
19 410 610 47 446 769
20 383 616 48 480 773
21 315 618 49 352 773
22 267 623 50 410 775
23 420 627 51 380 785
24 300 630 52 610 788
25 410 635 53 530 790
26 220 640 54 360 795
27 403 648 55 305 801
28 350 650
TABLE 2.9: Total Group Mean SAT Reasoning Test Scores: College Bound
Seniors, 1972–2007
Year Critical Reading Mathematics
Male Female Total Male Female Total
1972 531 529 530 527 489 509
1973 523 521 523 525 489 506
1974 524 520 521 524 488 505
1975 515 509 512 518 479 498
1976 511 508 509 520 475 497
1977 509 505 507 520 474 496
1978 511 503 507 517 474 494
1979 509 501 505 516 473 493
1980 506 498 502 515 473 492
1981 508 496 502 516 473 492
1982 509 499 504 516 473 493
1983 508 498 503 516 474 494
1984 511 498 504 518 478 497
1985 514 503 509 522 480 500
1986 515 504 509 523 479 500
1987 512 502 507 523 481 501
1988 512 499 505 521 483 501
1989 510 498 504 523 482 502
1990 505 496 500 521 483 501
1991 503 495 499 520 482 500
1992 504 496 500 521 484 501
1993 504 497 500 524 484 503
1994 501 497 499 523 487 504
1995 505 502 504 525 490 506
1996 507 503 505 527 492 508
1997 507 503 505 530 494 511
1998 509 502 505 531 496 512
1999 509 502 505 531 495 511
2000 507 504 505 533 498 514
2001 509 502 506 533 498 514
2002 507 502 504 534 500 516
2003 512 503 507 537 503 519
2004 512 504 508 537 501 518
2005 513 505 508 538 504 520
2006 505 502 503 536 502 518
2007 504 502 502 533 499 515
Note: For 1972–1986 a formula was applied to the original mean and
standard deviation to convert the mean to the recentered scale. For 1987–
1995 individual student scores were converted to the recentered scale and
then the mean was recomputed. From 1996–1999, nearly all students
received scores on the recentered scale. Any score on the original scale was
converted to the recentered scale prior to computing the mean. From 2000–
2007, all scores are reported on the recentered scale.
 TABLE 2.10: SAT Reasoning Test Classified by Family Income.
Family IncomeNumber of Critical Reading Mathematics Writing
($) Test Takers
Mean SD Mean SD Mean SD
<10,000 40610 427 107 451 122 423 104
10000–20000 72745 453 106 472 113 446 102
20000–30000 61244 454 102 465 107 444 97
30000–40000 83685 476 103 485 106 466 98
40000–50000 75836 489 103 486 105 477 99
50000–60000 80060 497 102 504 104 486 98
60000–70000 75763 504 102 511 103 493 98
70000–80000 81627 508 101 516 103 498 98
80000–100000 130752 520 102 529 104 510 100
>100000 245025 544 105 556 107 537 103
TABLE 3.2: Raw Data Based on Table 2.6
Obs Y X x y xi2 yixi
1 4.4567 6 -6 -4.218 36 25.308
2 5.77 7 -5 -2.9047 25 14.5235
3 5.9787 8 -4 -2.696 16 10.784
4 7.3317 9 -3 -1.343 9 4.029
5 7.3182 10 -2 -1.3565 4 2.713
6 6.5844 11 -1 -2.0903 1 2.0903
7 7.8182 12 0 -0.8565 0 0
8 7.8351 13 1 -0.8396 1 -0.8396
9 11.0223 14 2 2.3476 4 4.6952
10 10.6738 15 3 1.9991 9 5.9973
11 10.8361 16 4 2.1614 16 8.6456
12 13.615 17 5 4.9403 25 24.7015
13 13.531 18 6 4.8563 36 29.1378
sum 112.7712 156 0 0 182 131.7856
Obs X2i Y2i (𝑌𝑖) ̂ ui = Yi - Yc ui2
1 36 19.86217 4.165294 0.291406 0.084917
2 49 33.2929 4.916863 0.853137 0.727843
3 64 35.74485 5.668432 0.310268 0.096266
4 81 53.75382 6.420001 0.911699 0.831195
5 100 53.55605 7.17157 0.14663 0.0215
6 121 43.35432 7.923139 -1.33874 1.792222
7 144 61.38879 8.674708 -0.85651 0.733606
8 169 121.4911 9.426277 -1.59118 2.531844
9 196 113.93 10.17785 0.844454 0.713103
10 225 117.4211 10.92941 -0.25562 0.065339
11 256 185.3682 11.68098 -0.84488 0.713829
12 289 185.3682 12.43255 1.182447 1.398181
13 324 183.088 13.18412 0.346878 0.120324
sum 2054 1207.62 112.7712 0 9.830169
TABLE 3.3: Number of Cellular Phone Subscribers per Hundred
Persons and Number of Personal Computers per 100 Persons and
Per Capita Income in Selected Countries for 2003.
Country Cellphone PCs Per Capita Income ($)
Argentina 17.76 8.2 11410
Australia 71.95 60.18 28780
Belgium 79.28 31.81 28920
Brazil 26.36 7.48 7510
Bulgaria 46.64 5.19 75.4
Canada 41.9 48.7 30040
China 21.48 2.76 4980
Colombia 14.13 4.93 6410
Czech Republic 96.46 17.74 15600
Ecuador 18.92 3.24 3940
Egypt 8.45 2.91 3940
France 69.59 34.71 27640
Germany 78.52 48.47 27610
Greece 90.23 8.17 19900
Guatemala 13.15 1.44 4090
Hungary 76.88 10.84 13840
India 2.47 0.72 2880
Indonesia 8.74 1.19 3210
Italy 101.76 23.07 26,830
Japan 67.9 38.22 28450
Mexico 29.47 8.3 8980
Netherlands 76.76 46.66 28560
Pakistan 1.75 0.42 2040
Poland 45.09 14.2 11210
Russia 24.93 8.87 8950
Saudia Arabia 32.11 13.67 13230
South Africa 36.36 7.26 10130
Spain 91.61 19.6 22150
Sweden 98.05 62.13 26710
Switzerland 84.34 70.87 32220
Thailand 39.42 3.98 7450
U.K. 91.17 40.57 27690
U.S. 54.58 65.98 37750
Venezuela 27.3 6.09 4750
Note: The data on cell phones and personal computers are per 100 persons.
 TABLE 3.5
Student Y
Rank A B C D E F G H I J 90
Midterm 1 3 7 10 9 5 4 8 2 6 140
Final 3 2 8 7 9 6 5 10 1 4
 X Y X
120 80 110
Instead of
220 150 210
 TABLE 3.6: Productivity and Related Data,
Business Sector 1960–2005 (Index numbers,
1992 =100; quarterly data seasonally adjusted)
Source: Economic Report of the President, 2007,
Table 49.

Output per hour of Real compensation

all persons 1 per hour 2,3
Year Nonfarm Nonfarm
Business Business
Business business
Sector Sector
Sector sector
1960 48.9 51.9 60.8 63.3
1961 50.6 53.5 62.5 64.8
1962 52.9 55.9 64.6 66.7
1963 55 57.8 66.1 68.1
1964 56.8 59.6 67.7 69.3
1965 58.8 61.4 69.1 70.5
1966 61.2 63.6 71.7 72.6
1967 62.5 64.7 73.5 74.5
1968 64.7 66.9 76.2 77.1
1969 65 67 77.3 78.1
1970 66.3 68 78.8 79.2
1971 69 70.7 80.2 80.7
1972 71.2 73.1 82.6 83.2
1973 73.4 75.3 84.3 84.7
1974 72.3 74.2 83.3 83.8
1975 74.8 76.2 84.1 84.5
1976 77.1 78.7 86.4 86.6
1977 78.5 80 87.6 88
1978 79.3 81 89.1 89.6
1979 79.3 80.7 89.3 89.7
1980 79.2 80.6 89.1 89.6
1981 80.8 81.7 89.3 89.8
1982 80.1 80.8 90.4 90.8
1983 83 84.5 90.3 90.9
1984 85.2 86.1 90.7 91.1
1985 87.1 87.5 92 92.2
1986 89.7 90.2 94.9 95.2
1987 90.1 90.6 95.2 95.5
1988 91.5 92.1 96.5 96.7
1989 92.4 92.8 95 95.1
1990 94.4 94.5 96.2 96.1
1991 95.9 96.1 97.4 97.4
1992 100 100 100 100
1993 100.4 100.4 99.7 99.5
1994 101.3 101.5 99 99.1
1995 101.5 102 98.7 98.8
 1996 104.5 104.7 99.4 99.4
1997 106.5 106.4 100.5 100.3
1998 109.5 109.4 105.2 104.9
1999 112.8 112.5 108 107.5
2000 116.1 115.7 112 111.5
2001 119.1 118.6 113.5 112.8
2002 124 123.5 115.7 115.1
2003 128.7 128 117.7 117.1
2004 132.7 131.8 119 118.2
2005 135.7 134.9 120.2 119.3
1Output refers to real gross domestic product in the sector.
2Wages and salaries of employees plus employers’
contributions for social insurance and private benefit plans.

3Hourly compensation divided by the consumer price

index for all urban consumers for recent quarters.
TABLE 3.7: Gold Prices, New York Stock Exchange Index, and Consumer
Price Index for U.S. for 1974–2006
Year Gold Price NYSE CPI Year Gold Price NYSE CPI
1974 159.26 463.54 49.3 1991 362.11 2182 136.2
1975 161.02 483.55 53.8 1992 343.82 2422 140.3
1976 124.84 575.85 56.9 1993 359.77 2639 144.5
1977 157.71 567.66 60.6 1994 384 2687 148.2
1978 193.22 567.81 65.2 1995 384.17 3079 152.4
1979 306.68 616.68 72.6 1996 387.77 3787.2 156.9
1980 612.56 720.15 82.4 1997 331.02 4827 160.5
1981 460.03 782.62 90.9 1998 294.24 5818 163
1982 375.67 728.84 96.5 1999 278.88 6547 166.6
1983 424.35 979.52 99.6 2000 279.11 6806 172.2
1984 360.48 977.33 104 2001 274.04 6398 177.1
1985 317.26 1142.97 108 2002 309.73 5579 179.9
1986 367.66 1438.02 110 2003 363.38 5447 184
1987 446.46 1709.79 114 2004 409.72 6613 188.9
1988 436.94 1585.14 118 2005 444.74 7349 195.3
1989 381.44 1903.36 124 2006 603.46 8358 201.6
1990 383.51 1939.47 131
TABLE 3.8: Nominal and Real Gross Domestic Product, 1959–2005
(billions of dollars, except as noted; quarterly data at seasonally adjusted
annual rates; RGDP in billions of chained [2000] dollars)
Year NGDP RGDP Year NGDP RGDP
1959 506.6 2,441.30 1983 3536.7 5,423.80
1960 526.4 2501.8 1984 3933.2 5,813.60
1961 544.7 2560 1985 4220.3 6,053.70
1962 585.6 2715.2 1986 4462.8 6,263.60
1963 617.7 2834 1987 4739.5 6,475.10
1964 663.6 2998.6 1988 5103.8 6,742.70
1965 719.1 3191.1 1989 5485.4 6,981.40
1966 787.8 3399.1 1990 5803.1 7,112.50
1967 532.6 3484.6 1991 5995.9 7,100.50
1968 910 3652.7 1992 6,337.70 7,336.60
1969 984.6 3765.4 1993 6,657.40 7,532.70
1970 1038.5 3771.9 1994 7,072.20 8,031.70
1971 1127.1 3898.6 1995 7,397.70 8,328.90
1972 1238.3 4105 1996 7,816.90 8,703.50
1973 1382.7 4341.5 1997 8,304.30 9,066.90
1974 1500 4319.6 1998 8,747.00 9,470.30
1975 1638.3 4311.2 1999 9,268.40 9,817.00
1976 1825.3 4540.9 2000 9,817.00 9,890.70
1977 2030.9 4750.5 2001 10,128.00 10,048.80
1978 2294.7 5015 2002 10,469.60 10,301.00
1979 2563.3 5173.4 2003 10,960.80 10,703.50
1980 2789.5 5161.7 2004 11,712.50 10,703.50
1981 3128.4 5291.7 2005 12,455.80 11,048.60
1982 3255 5189.3
TABLE 5.5: Average Salary and Per Pupil Spending (dollars),
1985. Source: National Education Association, as reported by
Albuquerque Tribune, Nov. 7, 1986.

Observation Salary Spending Observation Salary Spending

1 19,583 3346 27 22,795 3366
2 20,263 3114 28 21,570 2920
3 20,325 3554 29 22,080 2980
4 26,800 4642 30 22,250 3731
5 29,470 4669 31 20,940 2853
6 26,610 4888 32 21,800 2533
7 30,678 5710 33 22,934 2729
8 27,170 5536 34 18,443 2305
9 25,853 4168 35 19,538 2642
10 24,500 3547 36 20,460 3124
11 24,274 3159 37 21,419 2752
12 27,170 3621 38 25,160 3429
13 30,168 3782 39 22,482 3947
14 26,525 4247 40 20,969 2509
15 27,360 3982 41 27,224 5440
16 21,690 3568 42 25,892 4042
17 21,974 3155 43 22,644 3402
18 20,816 3059 44 24,640 2829
19 18,095 2967 45 22,341 2297
20 20,939 3285 46 25,610 2932
21 22,644 3914 47 26,015 3705
22 24,624 4517 48 25,788 4123
23 27,186 4349 49 29,132 3608
24 33,990 5020 50 41,480 8349
25 23,382 3594 51 25,845 3766
26 20,627 2821
TABLE 5.6: GNP and Four Measures of Money Stock
(Source: Economic Report of the President, 1985, GNP data
from Table B-1, p. 232; money stock data from Table B-61, p.
303).

Money Stock Measure, $ billion

Year GNP $ Billio
M1 M2 M3 L
1970 992.7 216.6 628.2 677.5 816.3
1971 1,077.60 230.8 712.8 776.2 903.1
1972 1,185.90 252 805.2 886 1,023.00
1973 1,326.40 265.9 861 985 1,141.70
1974 1,434.20 277.6 908.5 1,070.50 1,249.30
1975 1,549.20 291.2 1,023.30 1,174.20 1,367.90
1976 1,718.00 310.4 1,163.60 1,311.90 1,516.60
1977 1,918.30 335.4 1,286.70 1,472.90 1,704.70
1978 2,163.90 363.1 1,389.10 1,647.10 1,910.60
1979 2,417.80 389.1 1,498.50 1,804.80 2,117.10
1980 2,631.70 414.9 1,632.60 1,990.00 2,326.20
1981 2,957.80 441.9 1,796.60 2,238.20 2,599.80
1982 3,069.30 480.5 1,965.40 2,462.50 2,870.80
1983 3,304.80 525.4 2,196.30 2,710.40 3,183.10
TABLE 5.9: The Hamburger Standard (Source: McDonald’s; The Economist,
February 1, 2007).
Implied Actual Valuation
PPP* of Dollar against
Big Mac Prices the Dollar Exchange the
Rate, Jan Dollar, %
31st
In local currency In Dollars
United States† $3.22 3.22
Argentina Peso 8.25 2.65 2.56 3.11 -18
Australia A$3.45 2.67 1.07 1.29 -17
Brazil Real 6.4 3.01 1.99 2.13 -6
Britain £1.99 3.9 1.62‡ 1.96‡ 21
Canada C$3.63 3.08 1.13 1.18 -4
Chile Peso 1,670 3.07 519 544 -5
China Yuan 11.0 1.41 3.42 7.77 -56
Colombia Peso 6,900 3.06 2,143 2,254 -5
Costa Rica Colones 1,130 2.18 351 519 -32
Czech Republic Koruna 52.1 2.41 16.2 21.6 -25
Denmark DKr27.75 4.84 8.62 5.74 50
Egypt Pound 9.09 1.6 2.82 5.7 -50
Estonia Kroon 30 2.49 9.32 12 -23
Euro area§ € 2.94 3.82 1.10** 1.30** 19
Hong Kong HK$12.0 1.54 3.73 7.81 -52
Hungary Forint 590 3 183 197 -7
Iceland Kronur 509 7.44 158 68.4 131
Indonesia Rupiah 15,900 1.75 4,938 9,100 -46
Japan ¥280 2.31 87 121 -28
Latvia Lats 1.35 2.52 0.42 0.54 -22
Lithuania Litas 6.50 2.45 2.02 2.66 -24
Malaysia Ringgit 5.50 1.57 1.71 3.5 -51
Mexico Peso 29.0 2.66 9.01 10.9 -17
New Zealand NZ$4.60 3.16 1.43 1.45 -2
Norway Kroner 41.5 6.63 12.9 6.26 106
Pakistan Rupee 140 2.31 43.5 60.7 -28
Paraguay Guarani 10,000 1.9 3,106 5,250 -41
Peru New Sol 9.50 2.97 2.95 3.2 -8
Philippines Peso 85.0 1.74 26.4 48.9 -46
Poland Zloty 6.90 2.29 2.14 3.01 -29
Russia Rouble 49.0 1.85 15.2 26.5 -43
Saudi Arabia Riyal 9.00 2.4 2.8 3.75 -25
Singapore S$3.60 2.34 1.12 1.54 -27
Slovakia Crown 57.98 2.13 18 27.2 -34
South Africa Rand 15.5 2.14 4.81 7.25 -34
South Korea Won 2,900 3.08 901 942 -4
Sri Lanka Rupee 190 1.75 59 109 -46
Sweden SKr32.0 4.59 9.94 6.97 43
Switzerland SFr6.30 5.05 1.96 1.25 57
Taiwan NT$75.0 2.28 23.3 32.9 -29
Thailand Baht 62.0 1.78 19.3 34.7 -45
Turkey Lire 4.55 3.22 1.41 1.41 nil
UAE Dirhams 10.0 2.72 3.11 3.67 -15
Ukraine Hryvnia 9.00 1.71 2.8 5.27 -47
Uruguay Peso 55.0 2.17 17.1 25.3 -33
Venezuela Bolivar 6,800 1.58 2,112 4,307 -51
TABLE 5.10: CPI and PPI,
USA, 1980–2006 (Source:
Economic Report of the
President, 2007, Tables B-62
and B-65).
PPI (Total
finished
Year CPI Total goods)
1980 82.4 88
1981 90.9 96.1
1982 96.5 100
1983 99.6 101.6
1984 103.9 103.7
1985 107.6 104.7
1986 109.6 103.2
1987 113.6 105.4
1988 118.3 108
1989 124 113.6
1990 130.7 119.2
1991 136.2 121.7
1992 104.3 123.2
1993 144.5 124.7
1994 148.2 125.5
1995 152.4 127.9
1996 156.9 131.3
1997 160.5 131.8
1998 163 130.7
1999 166.6 133
2000 172.2 138
2001 177.1 140.7
2002 179.9 138.9
2003 184 143.3
2004 188.9 148.5
2005 195.3 155.7
2006 201.6 160.3
Occupation Smoking Cancer
Farmers, foresters, fishermen 77 84
Miners and quarrymen 137 116
Gas, coke, and chemical makers 117 123
Glass and ceramic makers 94 128
Furnace forge foundry workers 116 155
Electrical and electronic workers 102 101
Engineering and allied trades 111 118
Wood workers 93 113
Leather workers 88 104
Textile workers 102 88
Clothing workers 91 104
Food, drink, and tobacco workers 104 129
Paper and printing workers 107 86
Makers of other products 112 96
Construction workers 113 144
Painters and decorators 110 139
Drivers of engines, cranes, etc. 125 113
Laborers not included elsewhere 113 146
Transportation, and communication workers 115 128
Warehousemen, store keepers, etc. 105 115
Clerical workers 87 79
Sales workers 91 85
Service, sports, recreation workers 100 120
Administrators and managers 76 60
Artists and professional and technical workers 66 51