Should the unit of measure of the variables be the same....
Posted: Fri Jun 29, 2012 4:27 am
Should the unit of measure of the variables be the same in an econometric equation?
For example if I estimate this equation:
Price of gold (per gram Turkish Lira) = constant + Turkish Lira/US Dolar exchange rate + Price of gold ( ons/dolar)
could it be correct?
For example if I estimate this equation:
Price of gold (per gram Turkish Lira) = constant + Turkish Lira/US Dolar exchange rate + Price of gold ( ons/dolar)
could it be correct?