Basic Economatrics
BASIC ECONOMETRICS
FOURTH EDITION
Damodar N. Gujarati
United States Military Academy, West Point
Boston Burr Ridge, IL Dubuque, IA Madison, WI New York San Francisco St. Louis Bangkok Bogota Caracas Kuala Lumpur Lisbon London Madrid Mexico City Milan Montreal New Delhi Santiago Seoul Singapore Sydney Taipei Toronto
McGraw-Hill Higher Education
A Division of The McGraw-Hill Companies
'EZ
BASIC ECONOMETRICS Published by McGraw-HiII/lrwin, a business unit of The McGraw-Hili Companies, Inc. 1221 Avenue of the Americas, New York, NY, 10020. Copyright © 2003, 1995, 1988, 1978, by The McGraw-Hili Companies, Inc. All rights reserved. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of The McGraw-Hili Companies, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. Some ancillaries, including electronic and print components, may not be available to customers outside the United States.
This book is printed on acid-free paper. domestic international
890DOC/DOC0987 67890DOC/DOC0987
ISBN: 978-0-07-233542-2 MHID: 0-07-233542-4 ISBN: 978-0-07-112342-6 MHID: 0-07-112342-3 Publisher: Gary Burke Executive sponsoring editor: Lucille Sutton Developmental editor: Aric Bright Marketing manager: Martin D. Quinn Associate project manager: Catherine R. Schultz Senior production supervisor: Lori Koetters Senior designer: Jenny EI-Shamy Media producer: Melissa Kansa Supplement producer: Erin Sauder Cover design: Jamie O'Neal Typeface: 10/12 New Aster Compositor: Interactive Composition Corporation Printer: R. R. Donnelley & Sons Company
Library of Congress Control Number: 2001099577
INTERNATIONAL EDITION ISBN 0-07-112342-3 Copyright © 2003. Exclusive rights by The McGraw-Hili Companies, Inc. for manufacture and export. This book cannot be re-exported from the
FOURTH EDITION
Damodar N. Gujarati
United States Military Academy, West Point
Boston Burr Ridge, IL Dubuque, IA Madison, WI New York San Francisco St. Louis Bangkok Bogota Caracas Kuala Lumpur Lisbon London Madrid Mexico City Milan Montreal New Delhi Santiago Seoul Singapore Sydney Taipei Toronto
McGraw-Hill Higher Education
A Division of The McGraw-Hill Companies
'EZ
BASIC ECONOMETRICS Published by McGraw-HiII/lrwin, a business unit of The McGraw-Hili Companies, Inc. 1221 Avenue of the Americas, New York, NY, 10020. Copyright © 2003, 1995, 1988, 1978, by The McGraw-Hili Companies, Inc. All rights reserved. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of The McGraw-Hili Companies, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. Some ancillaries, including electronic and print components, may not be available to customers outside the United States.
This book is printed on acid-free paper. domestic international
890DOC/DOC0987 67890DOC/DOC0987
ISBN: 978-0-07-233542-2 MHID: 0-07-233542-4 ISBN: 978-0-07-112342-6 MHID: 0-07-112342-3 Publisher: Gary Burke Executive sponsoring editor: Lucille Sutton Developmental editor: Aric Bright Marketing manager: Martin D. Quinn Associate project manager: Catherine R. Schultz Senior production supervisor: Lori Koetters Senior designer: Jenny EI-Shamy Media producer: Melissa Kansa Supplement producer: Erin Sauder Cover design: Jamie O'Neal Typeface: 10/12 New Aster Compositor: Interactive Composition Corporation Printer: R. R. Donnelley & Sons Company
Library of Congress Control Number: 2001099577
INTERNATIONAL EDITION ISBN 0-07-112342-3 Copyright © 2003. Exclusive rights by The McGraw-Hili Companies, Inc. for manufacture and export. This book cannot be re-exported from the