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

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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.

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