
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Q1

Transcribed Image Text:Dependent
Variable: INTEREST
Method: Least Squares
Date: 08/08/20 Time: 17:38
Sample: 2010M01 2019M12
Included observations: 120
Variable
с
UNEMP
R-squared
Adjusted R-squared
S.E. of regression
Sum squared resid
Log likelihood
F-statistic
Prob(F-statistic)
Coefficient
9.586787
-1.232859
Std. Error
t-Statistic Prob.
1.478492 6.484167
0.0000
0.267930 -4.601419 0.0000
0.152135 Mean dependent var
0.144949 S.D. dependent var
1.105708 Akaike info criterion
144.2656 Schwarz criterion
-181.3225 Hannan-Quinn criter.
21.17306 Durbin-Watson stat
0.000011
2.799500
1.195761
3.055375
3.101833
3.074242
0.028137
The above is the regression result between the Australian monthly unemployment rate (UNEMP, independent variable) and monthly interest rate (INTEREST, dependent variable). In testing for
the null hypothesis that the coefficient of UNEMP is 0, what is Type II error?
Select one:
a. UNEMP has no effect on INTEREST, but the test accepts the null hypothesis
O b.
UNEMP has some effect on INTEREST, but the test does not reject the null hypothesis
O C. UNEMP has some effect on INTEREST, but the test rejects the null hypothesis
O d. UNEMP has no effect on INTEREST, but the test rejects the null hypothesis
Expert Solution

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Definition of type 2 error
If we have a particular hypothesis about the population, but we assumed the false null hypothesis. And while working with the samples we also failed to reject the null hypothesis (which was false). Then we can say that we committed the type 2 error.
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