ECO220 TT4 TEST - v1

pdf

School

University of Toronto *

*We aren’t endorsed by this school

Course

220Y

Subject

Statistics

Date

Feb 20, 2024

Type

pdf

Pages

Uploaded by AgentMorningKoala34

ECO220Y1Y, Test #4, Prof. Ugarte March 31, 2023, 3:10 – 5:00 pm U of T E-MAIL: ___________________________________ @MAIL.UTORONTO.CA SURNAME (LAST NAME): GIVEN NAME (FIRST NAME): UTORID: (e.g. LIHAO118) Instructions: • You have 110 minutes. Keep these test papers and the Supplement closed and face up on your desk until the start of the test is announced. You must stay for a minimum of 60 minutes. • You may use a non-programmable calculator. • There are 5 questions (most with multiple parts) with varying point values worth a total of 67 points. • This test includes these 8 pages plus the Supplement. The Supplement contains the aid sheets, readings, figures, tables, and other materials for some test questions. For each question referencing the Supplement , carefully review all materials. The Supplement will NOT be collected : write your answers on these test papers. When we announce the end of the test, hand these test papers to us (you keep the Supplement ). • Write your answers clearly, completely, and concisely in the designated space provided immediately after each question. An answer guide ends each question to let you know what is expected. For example, a quantitative analysis (which shows your work and reasoning), a fully labelled graph, and/or sentences. o Anything requested by the question and/or the answer guide is required. Similarly, limit yourself to the answer guide. For example, if the answer guide does not request sentences, provide only what is requested (e.g. quantitative analysis). o Marking TAs are instructed to accept all reasonable rounding. • Your entire answer must fit in the designated space provided immediately after each question . No extra space/pages are possible. You cannot use blank space for other questions, nor can you write answers on the Supplement . Write in PENCIL and use an ERASER as needed so that you can fit your final answer (including work and reasoning) in the appropriate space.

(1) See Supplement for Question (1): (a) [3 pts] Provide an interpretation of the intercept. Answer with a qualitative analysis. (b) [5 pts] Is the regression in Table 1 overall statistically significant? Answer with hypotheses in formal notation, a quantitative analysis and 1-2 sentences interpreting the results (c) [4 pts] Predict the hours worked by a non-immigrant female in April 2020. Answer with a quantitative analysis.

(d) [5 pts] Suppose we have a dummy variable called full-time (equal to 1 if the respondent is employed full-time and 0 otherwise). It is negatively correlated with the female dummy variable. If we add the full-time time dummy variable to our regression, what do you expect to happen to the coefficient on the female dummy variable? Answer with a qualitative analysis (2) See Supplement for Question (2): (a) [5 pts] In regression (2), is searches returning the product ID statistically significant? Answer with hypotheses in formal notation, a quantitative analysis and 1-2 sentences interpreting the results. (b) [5 pts] Test the hypothesis that, on average, one additional search matching the product ID decreases the price paid by more than 0.10% after controlling for the number of days since the first search and the natural log of the expected product price. Answer with hypotheses in formal notation, a quantitative analysis and 1-2 sentences interpreting the results.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

(c) [5 pts] Calculate the 95% confidence interval estimate of the relationship between the number of searches returning the product ID and the price paid for the product after controlling for days since the first search, days searching and the expected product price. Answer with a quantitative analysis. (3) See Supplement for Question (3): Resignations in U.S Construction Sector (a) [4 pts] Which of the four graphs summarizes the regression results? Explain. Answer with 2 – 3 sentences. (b) [2 pts] How should we interpret the value of 32.5969? Answer with 1 – 2 sentences.

(c) [4 pts] On what date (dd/mm/yyyy) did U.S construction sector resignations (quits) peak? Answer with a quantitative analysis and one sentence stating the result. (d) [3 pts] Why was a quadratic term used instead of a log transformation? Answer with 1-2 sentences. (4) See Supplement for Question (4): Recipe Websites (a) [2 pts] You would like to test if Chef Rosemary has better recipes than Chef Paprika based on user ratings. Write the relevant hypotheses in standard notation. Use subscripts “p” and “r” (for Paprika and Rosemary, respectively) to distinguish the quantities referring to each chef.

(b) [2 pts] Suppose instead we ran a simple regression on all 66 recipes, where the “y” variable was the rating, and the “x” variable was a dummy variable taking the value 1 for recipes by Chef Rosemary and 0 for recipes by Chef Paprika. What would be the estimate of the slope coefficient? Answer with a quantitative analysis (c) [4 pts] Calculate the homoscedastic standard error of the slope coefficient estimate. Answer with a quantitative analysis (d) [3 pts] In this case, would it make sense to report the heteroskedastic standard error instead of the default (homoscedastic) standard error? Why or why not? Answer with 1-2 sentences clearly explaining the key reason.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

(5) See Supplement for Question (5): Recipe Competition (a) [2 pts] You would like to test if Chef Rosemary and Chef Paprika have different recipe quality for their Tim Hortons recipes. Write the relevant hypotheses in standard notation. (b) [4 pts] What is the standard error of the point estimate? Answer with a quantitative analysis (c) [5 pts] Perform the test using a 5% significance level and report the result. Is there another significance level at which the test result would be different? Answer with a quantitative analysis and one sentence.

ECO220 TT4 TEST - v1

Related Documents