Examine the Durbin-Watson statistic for the logarithmic demand function that you fitted in Exercise 12.4. Is there evidence of autocorrelation? If so, what are the implications for the statistical tests you performed?
Exercise 12.4
Regress the logarithm of expenditure on your category on LGDPI and the logarithm of the relative price series. Give an economic interpretation of the regression coefficients and perform appropriate statistical tests