Assignment Instructions -
Group Project Instructions
Students will form groups of two/three people who will cooperate towards analysing a dataset. In your groups, you will write a small report on the determinants of electricity consumption. Data will be provided on electricity consumption and some potentially relevant predictors. You will investigate which of these predictors are relevant determinants of electricity consumption. You will have to apply your knowledge to find the best regression model and explain all the steps taken to end up with this model including what checks were made to ensure that the model is not misspecified. Explain how you ensured that the econometric estimates are reliable (and not biased), and clearly state the implications of the specific model for policy implications (i.e. what explains electricity consumption, and how we can influence it)."
?4 pages not include the graph, just work should be 4 pages.
References -
1. 2005 - Residential Energy Consumption Survey Household Questionnaire
2. Residential consumption of gas and electricity in the U.S.: The role of prices and income by Anna Alberini, Will Gans and Daniel Velez-Lopez
3. THE SHORT-RUN RESIDENTIAL DEMAND FOR ELECTRICITY by Roberta Barnes, Robert Gillingham and Robert Hagemann
4. A new look at residential electricity demand using household expenditure data by Harrison Fell, ShanjunLi, and Anthony Paul
Attachment:- Assignment Files.rar