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2. The following Table gives data on output per hour (X) and real compensation per hour (Y) for the business and nonfarm business sectors of the U.S. economy. Year Y X 1990 1 12 1991 4 18 1992 7 30 Estimate the variance of the slope of the OLS regression of Y on X (32) from the following regression: Y₁ = B1+ B₂X + U₁ B₁ = Y - B₂ X 8² = = Cov(X,Y) Σαλ n-2 Var(X) 82 var(B2)=x (30 points)

2. The following Table gives data on output per hour (X) and real compensation per hour (Y) for the business and nonfarm business sectors of the U.S. economy. Year Y X 1990 1 12 1991 4 18 1992 7 30 Estimate the variance of the slope of the OLS regression of Y on X (32) from the following regression: Y₁ = B1+ B₂X + U₁ B₁ = Y - B₂ X 8² = = Cov(X,Y) Σαλ n-2 Var(X) 82 var(B2)=x (30 points)

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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2. The following Table gives data on output per hour (X) and real compensation per hour (Y) for the business and nonfarm business sectors of the U.S. economy. Year Y X 1990 1 12 1991 4 18 1992 7 30 Estimate the variance of the slope of the OLS regression of Y on X (32) from the following regression: Y₁ = B1+ B₂X + U₁ B₁ = Y - B₂ X 8² = = Cov(X,Y) Σαλ n-2 Var(X) 82 var(B2)=x (30 points)
Transcribed Image Text:2. The following Table gives data on output per hour (X) and real compensation per hour (Y) for the business and nonfarm business sectors of the U.S. economy. Year Y X 1990 1 12 1991 4 18 1992 7 30 Estimate the variance of the slope of the OLS regression of Y on X (32) from the following regression: Y₁ = B1+ B₂X + U₁ B₁ = Y - B₂ X 8² = = Cov(X,Y) Σαλ n-2 Var(X) 82 var(B2)=x (30 points)
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