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- Explain the concept of Testing Hypotheses on Two or More Coefficients?5. “The RAND Health Insurance Study gave every subject a fixed amount of money that covered the maximum possible expenditure that each subject might have. Because of this, all participants could act as if they had full coverage, and the experiment was invalid.” Assuming the validity of the first sentence, comment on the inference drawn in the second sentence.Problem 3 (Wooldridge 15.8): Suppose you want to test whether girls who attend a girls' high school do better in math than girls who attend co-ed (mixed-gender) schools. You have a random sample of senior high school girls from a state in the United States. Let score be the score on a standardized math test. Let girlhs be a dummy variable indicating whether a student attends a girls' high school. 1. What other factors would you control for in the equation? (You should be able to reasonably collect data on the factors you mention.) 2. Write an equation relating score to girlhs and the other factors you listed in part (1). 3. Suppose that parental moral support and motivation are unmeasured factors in the error term in part (2). Are these likely to be correlated with girlhs? Explain what are the problems that this creates in your model. 4. Discuss the assumptions needed for the number of girls' high schools within a 20-mile radius of a girl's home to be a valid IV for girlhs. 5. Suppose…
- Question 2 A new digital file of lectures on the topic of intermediate microeconomics is being marketed on the Internet as a resource to prepare for the final exam. As an experiment, the marketing firm wants to direct half of Web hits to a page that advertises the lectures as a resource that provide a 90% probability of successfully passing the final exam, while the other half are directed to a page that advertises the lectures as a resource that provide a 10% probability of failing to pass the final exam. Would you expect equal numbers of sales from the two advertising approaches? Explain and use the appropriate concepts to answer the question, demonstrating your critical understanding of the relevant course material.2. You are interested in the effect of a factory being inspected on whether it reduces its pollution output. There's a variable "number of reported violations" that you have. When the number of reported violations goes from 9 to 10, the probability of being inspected jumps from 20% to 60%. Average pollution levels decrease from 600k Imetric tons of CO2 to 500k metric tons going from 9 to 10 violations as well. What is the fuzzy regression discontinuity estimate of the effect of inspections on air pollution levels?Type I and Type II Errors. Please discuss Type I and Type II errors. What are they? Discuss their relationship with hypothesis testing.
- Explain the concept of Internal and External Validity in relation to statistical analysis?(a) Rank the three economic variables from most important to least important.Provide one relevant reason to justify your selection for each of the threepositions.Based on the literature review you finished, now you should develop theory and hypothesis. The number of hypotheses need not be too many, 1-3 hypotheses is enough as long as these hypotheses are TESTABLE. Please think of the data and methods that you will use in order to test the hypotheses that you developed. Theoretical ModelThe theory draws from the model developed by Barro and Lee (1994) which is consistent with the endogenous growth theory. Endogenous growth theory takes into account the sources of technological progress such as human capital and role of government (Romer, 1994). The theory contends that economic growth is related with developments of new ideas, innovation and overall technological change and total factor productivity. Following endogenous growth theory, the concept of “trade openness” in this paper is measured by three variables that take into account of sources of technological change. The three variables that measure trade openness are, trade dependency ratio,…
- If your overall grade point average is 2.0 and you earn a 2.5 GPA this semester, your overall grade point average will increase. This situation demonstrates the general principle that if average value is greater than marginal value, marginal value will increase. if average value is greater than total value, total value will increase. if marginal value is greater than average value, average value will increase. if marginal value is greater than total value, total value will increase.Choose the correct answer.3.Why would I use a one-tailed (directional) hypothesis? What are the limitations of using a one-tailed hypothesis?