Using 81 quarterly observations on the growth rate of employment (Y) and the growth rate of output (X), the following regression results are obtained by ordinary least squares (t 1, 2,...,81): = -0.002+0.105X, +0.730Y-1+0.063X1-1 (0.001) (0.014) (0.045) (0.016) BG 1.100 [0.363], WH 1.474 [0.175], RESET = 0.081 [0.777], R2 = 0.8827, SSR 0.00061, = -0.002+0.086(X + X-1)+0.711Y-1, (0.011) (0.001) R² = 0.8767, (0.045) SSR = 0.00065. is the fitted value of the regression; figures in parentheses are the standard errors of the estimated coefficients; R² is the coefficient of determination; SSR is the sum of squared residuals; BG is the Breusch Godfrey test for fourth-order autocorre lation; WH is White's test for heteroskedasticity; RESET is Ramsey's regression specification error test; figures in square brackets are the p-values of BG, WH and RESET. Test the null hypothesis that the coefficients on X and X-1 in the first regres- sion are equal against the alternative hypothesis that they are not equal (the 5% critical value for the test is 3.9651). State clearly what the distribution of your test statistic is under the null hypothesis.
Using 81 quarterly observations on the growth rate of employment (Y) and the growth rate of output (X), the following regression results are obtained by ordinary least squares (t 1, 2,...,81): = -0.002+0.105X, +0.730Y-1+0.063X1-1 (0.001) (0.014) (0.045) (0.016) BG 1.100 [0.363], WH 1.474 [0.175], RESET = 0.081 [0.777], R2 = 0.8827, SSR 0.00061, = -0.002+0.086(X + X-1)+0.711Y-1, (0.011) (0.001) R² = 0.8767, (0.045) SSR = 0.00065. is the fitted value of the regression; figures in parentheses are the standard errors of the estimated coefficients; R² is the coefficient of determination; SSR is the sum of squared residuals; BG is the Breusch Godfrey test for fourth-order autocorre lation; WH is White's test for heteroskedasticity; RESET is Ramsey's regression specification error test; figures in square brackets are the p-values of BG, WH and RESET. Test the null hypothesis that the coefficients on X and X-1 in the first regres- sion are equal against the alternative hypothesis that they are not equal (the 5% critical value for the test is 3.9651). State clearly what the distribution of your test statistic is under the null hypothesis.
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter5: A Survey Of Other Common Functions
Section5.3: Modeling Data With Power Functions
Problem 3TU
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