Suppose the following regression results were presented to you for consideration: ŷi = 75.05 - 3.02Xi, where Yi is the average 8th grade MCAS score for students in principality i, and Xi is the average student-teacher ratio in municipality i. Please answer the following: Is this a time series or a cross-sectional regression? Sketch the regression line. What is the interpretation of the intercept in this example? Does it make economic sense? How would you interpret the slope coefficient? Is it possible to tell what
Suppose the following regression results were presented to you for consideration: ŷi = 75.05 - 3.02Xi, where Yi is the average 8th grade MCAS score for students in principality i, and Xi is the average student-teacher ratio in municipality i. Please answer the following: Is this a time series or a cross-sectional regression? Sketch the regression line. What is the interpretation of the intercept in this example? Does it make economic sense? How would you interpret the slope coefficient? Is it possible to tell what
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
Suppose the following regression results were presented to you for consideration: ŷi = 75.05 - 3.02Xi, where Yi is the average 8th grade MCAS score for students in principality i, and Xi is the average student-teacher ratio in municipality i.
Please answer the following: Is this a time series or a cross-sectional regression? Sketch the regression line. What is the interpretation of the intercept in this example? Does it make economic sense? How would you interpret the slope coefficient? Is it possible to tell what the true PRF is in this example? Predict the MCAS score for a municipality with a student/teacher ratio of 25 students per teacher.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman