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- 2. In your own words, please describe the difference between the regression equation ŷ = b + b₁x and the regression equation y = P + ₁x (Section 10-3).True or False 1. A linear relationship estimated between two variables always has the equation y-ax+b, regardless of whether you use the average residual/least square or the maximum likelihood method to estimate the relationship. 2. Both, the average residual/least-square method and the maximum likelihood method use optimization while finding the best fit line representing the mathematical relationship between two variables.The R-squared of a regression of an asset’s excess returns against a multi-factor asset pricing model indicates the proportion of the asset’s total volatility that is non-systematic. True False
- 4 what are the limitations of accuracy when using the best fit line compared to equation of the least squares regression line to make predictionsAn article in Technometrics by S. C. Narula and J. F. Wellington ("Prediction, Linear Regression, and a Minimum Sum of Relative Errors," Vol. 19, 1977) presents data on the selling price (y) and annual taxes (x) for 24 houses. The taxes include local, school and county taxes. The data are shown in the following table. Sale Price/1000 Taxes/1000 25.9 4.9176 29.5 5.0208 27.9 4.5429 25.9 4.5573 29.9 5.0597 29.9 3.8910 30.9 5.8980 28.9 5.6039 35.9 5.8282 31.5 5.3003 31.0 6.2712 30.9 5.9592 30.0 5.0500 36.9 8.2464 41.9 6.6969 40.5 7.7841 43.9 9.0384 37.5 5.9894 37.9 7.5422 44.5 8.7951 37.9 6.0831 38.9 8.3607 36.9 8.1400 45.8 9.14163. You are curious to understand if there is a relationship between the average grade (in %) that students received in Assignment 1, 2, and 3 of ECOR 2050 (assignments that covered midterm material) and their grade (in %) in the Midterm of the course. You are limited to collect 7 sets of data (midterm vs average assignments). For that, you can check the google sheets to find grades of assignment 1, 2, and 3 and midterm for 7 students. You should be careful that your data set is not biased. a) Collect the information and record them in the table below (please use a typed table/numbers as we need to copy/paste your numbers into Excel for checking your solution and marking). Mention how you ensured that your data set is random and unbiased. Student 2 3 4 6. 7 Grade (%) Average of Assignment 1, 2, and 3 (assignments before midterm) Midterm b) Using the collected information, conduct a simple linear regression analysis and find the regression line. Also, estimate the coefficient of…
- 4 Chemical Oxygen Demand (COD) is a necessary water fine parameter due to the fact similar to BOD, it affords an index to examine the effect discharged wastewater will have on the receiving environment. Table 4 shows the means for the removal reduction of COD in wastewater by three different treatment methods. Test the hypothesis that the reduction percentage is no different for each treatment method. Use the 5% level of significance.1. Suppose that two students, A and B, are both 29 years old but A is a female whereas B is a male, A is single while B is married. Both had an income of 4500 cedis when in the university and both have health inventory score of 21. Student A had two kids while in the university whereas student B had 4 kids. Both scored 16 on life satisfaction inventories as well as 23 on socioeconomic status of parents. Student A was a smoker but B was not. A scored 7 while B scored 12 on spirituality inventory. Both finished the university program but whiles a was earning 9000 Ghana cedis seven years after university, B was earning 6800. What is the predicted difference in the life satisfaction score of these two student seven years after university? 2. How much higher is the life satisfaction score predicted to be if the score on spirituality inventory rises by 25? 3. Which one of the pairs of variables selected to be multicollinear may be deleted from the regression and why? 4. Interpret the…State whether the statement is true, false or uncertain and explain the answers chosen. (a). The ordinary least squares approach can be used to estimate the logit. (b). The problem of whether being a female has an effect on earnings could be analyzed using the probit and logit estimation. (C). The Akaike's information criterion is useful for only non nested models
