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a simple linear regression equation shows the relationship between-
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- Determine the PRF.You are interested in how the number of hours a high school student has to work in an outside job has on their GPA. In your regression you want to control for high school standing and so you run the following regression: GPA = 3.4 0.03 * HrsWrk - 0.7 * Frosh - 0.3 * Soph +0.1 * Junior (1.1) (0.013) (0.23) (0.14) (0.08) where HrsWrk is the number of hours the student works per week, and Frosh, Soph, and Junior are dummy variables for the student's class standing. a) If you include a dummy variable for seniors, that would cause a Hint: type one word in each blank. For the rest of questions, type a number in one decimal place. b) The expected GPA of a Sophomore who works 10 hours per week is c) The expected GPA of a Senior who works 10 hours per week is d) If Dom and Sarah work the same number of hours per week, but Dom is a Junior and Sarah is a Freshman. Dom is expected to have a higher GPA than Sarah. e) Suppose you rewrite the regression as: problem. GPA = ₁HrsWrk + ß2Frosh + B2Soph +…Help!
- Please no written by hand solutionA researcher estimates a regression using two different software packages.The first uses the homoskedasticity-only formula for standard errors. Thesecond uses the heteroskedasticity-robust formula. The standard errors arevery different. Which should the researcher use? Why?Discuss the FIVE (5) importance of adding error term in the regression model.
- Please answer"In the regression model InY=b0+b1*InX+u, the coefficient b1 is interpreted as" O the intercept O A covariance O A regressor O An elasticityEconometrics: Given the following regressions: yt = 1.2yt-1 + Et and xt = 1.3xt-1 - 0.4xt-2 + Ct 1) Find he homogeneous equation and assess the implications of the roots.
- An analyst working for your firm provided an estimated log-linear demand function based on the natural logarithm of the quantity sold, price, and the average income of consumers. Results are summarized in the following table: SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations ANOVA Regression Residual Total Intercept LN Price LN Income df 0.968 0.937 0.933 0.003 30 SS MS F 2 0.003637484 0.001818742 202.48598 0.000242516 8.98206E-06 27 29 0.00388 Coefficients Standard Error 0.57 0.00 0.13 0.51 -0.08 0.15 t Stat 0.90 -19.50 1.13 P-value 0.37 0.00 0.27 Significance F 5.55598E-17 Lower 95% -0.65 -0.09 -0.12 How would a 4 percent increase in income impact the demand for your product? Demand would increase by 60 percent. Demand would increase by 0.6 percent. Demand would decrease by 60 percent. Demand would decrease by 0.6 percent. Upper 95% 1.68 -0.07 0.41To determine whether the revenue made trom selling ice creams in a smal shop (in USD) and the temperature (in Celcius degrees) are related, a researcher decides to employ the simple linear regression analysis. Using a random set of days in which the temperature varies between 20 and 35, she comes up with the following regression line: Ice Cream Revenue- 200 90 Temperature Based on this analysis, what can she conclude? O A)At 20 Celcius degrees. the shop owner can xpect to sell 5000 USD O B)AI 30 Celoius degrees, the shop owner can expect to sel 2000 usD O C)As the temperature goes up by one degree Celoius, the revenue increases by approximately 00% OD)On average ce cream revenue is about 200 USD when the temperature is O degrees Celcus O E)As the temperature goes up by one degree Celcius. the reverue inereases by approximately 200 USD.The data for this question is given in the file 1.Q1.xlsx(see image) and it refers to data for some cities X1 = total overall reported crime rate per 1 million residents X3 = annual police funding in $/resident X7 = % of people 25 years+ with at least 4 years of college (a) Estimate a regression with X1 as the dependent variable and X3 and X7 as the independent variables. (b) Will additional education help to reduce total overall crime (lead to a statistically significant reduction in crime)? Please explain. (c) Will an increase in funding for the police departments help reduce total overall crime (lead to a statistically significant reduction in total overall crime)? Please explain. (d) If you were asked to recommend a policy to reduce crime, then, based only on the above regression results, would you choose to invest in education (local schools) or in additional funding for the police? Please explain.
