CyprusCBC HouseNominal Number ofQuarterPrice IndexGDP Houscholds2005 0168,13765,72548932006 0272,24014.32537512005 Q373,44096,42522912005 0478,24123,62564412007 Q18274105,02543442007 a28954381,52636752007 0392,04491,42635452007 0495,54533.72658682008 Q1101,64522,12654532008 2105,94812,52638882008 3107,74898.32627962008 04104,84776,72639922009 0199.34485,62673372009 02100,14685,72709962009 a100,74723,12721142009 04102,84781,02792542010 01100.04628.32851812010 a299,64850,32850812010 0399,74952,02877592010 0499,1499229198720110198,14743.92985022011 0297,05005,42971432011 0395,94993,63004272011 0494,2SO60,230s0612012 0193,24714.83030492012 0291,34904,93007172012 0390.44932,52971642012 0489,84888,52996842013 0188,44309,52974492013 0286,34642.32956982013 038424589,32946882013 0482,14453,92994112014 Q130,04169,42998582014 0278,44403,72971512014 0377,14489,82997442014 0475,64345,63028832015 Q174,84189,73050422015 0274,54492.53040512015 0374,24576,83036112015 0474,24567,93059112016 Q173,64380,73139192016 0273,24717,53148442016 0373,34874,43157692016 0473,54900,33167012017 Q173,74677,93171492017 0274,2SO37,53175982017 0374,55187,13180492017 0474,85137,33185002018 Q175,24976.63251192018 275,55445,33262432018 Q76,05412,4327370530155173,22018 0476,73285012019 01772330 243 b. Add in the table provided in the spreadsheet a dummy variable that takesthe value of 1in the fourth quarter of each year and show the table withall the datac. Using the data provided in the spreadsheet including the dummy variableyou have created for the fourth quarter of each year run a regression withdependent variable the CBC house price index and independent variablesthe other three variables (Nominal GDP, Number of Households, and thedummy variable for the fourth quarter). Present the typical regressionresults output for this regression produced by Excel.d. Explain what the particular numbers for the following statistics that youpresented in b) mean (no points will be given if you write generaldefinitions without interpreting the particular numbers that you havepresented):a. R-squaredb. The t-statistics of the three independent variablesc. The coefficients of the three independent variablese. Discuss if the signs that you get for the coefficients of each of the threeindependent variables are correct or wrong and whyf. Write the house price index equation that can be constructed on the basisof the estimated constant and the coefficients of the three independentvariablesg. Estimate/forecast the CBC house price index for the first quarter of 2021assuming that the nominal GDP in the first quarter of 2021 was lower by1.3% than its 2019-Q1 value and the number of households was higherthan its 2019-Q1 value by 1.6%. Show and explain clearly thecalculations by which you derived your answer.h. Estimate/forecast the CBC house price index for the fourth quarter of2021 assuming that the nominal GDP in the fourth quarter of 2021 will behigher than its 2019-Q1 value by 2% and that the number of householdswill be higher than its 2019-Q1 value by 3%. Show and explain clearlythe calculations by which you derived your answer.

* Hi! Thank you for the question, As per the honour code, we are allowed to answer three sub-parts…

Answered: 78,2 41216 82.7 4105.0 43815 920 44914…

78,2 41216 82.7 4105.0 43815 920 44914 955 4531,7 1016 4522.1 1069 48125 107,7 1048 4776,7 4456 100,1 100,7 4721,1 1028 47810 100,0 996 4628.1

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter4: Equations Of Linear Functions

Section4.5: Correlation And Causation

Problem 2CYU

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Concept explainers

Continuous Probability Distributions

Probability distributions are of two types, which are continuous probability distributions and discrete probability distributions. A continuous probability distribution contains an infinite number of values. For example, if time is infinite: you could count from 0 to a trillion seconds, billion seconds, so on indefinitely. A discrete probability distribution consists of only a countable set of possible values.

Normal Distribution

Suppose we had to design a bathroom weighing scale, how would we decide what should be the range of the weighing machine? Would we take the highest recorded human weight in history and use that as the upper limit for our weighing scale? This may not be a great idea as the sensitivity of the scale would get reduced if the range is too large. At the same time, if we keep the upper limit too low, it may not be usable for a large percentage of the population!

Question

100%

Cyprus
CBC House
Nominal Number of
Quarter
Price Index
GDP Houscholds
2005 01
68,1
3765,7
254893
2006 02
72,2
4014.3
253751
2005 Q3
73,4
4096,4
252291
2005 04
78,2
4123,6
256441
2007 Q1
827
4105,0
254344
2007 a2
895
4381,5
263675
2007 03
92,0
4491,4
263545
2007 04
95,5
4533.7
265868
2008 Q1
101,6
4522,1
265453
2008 2
105,9
4812,5
263888
2008 3
107,7
4898.3
262796
2008 04
104,8
4776,7
263992
2009 01
99.3
4485,6
267337
2009 02
100,1
4685,7
270996
2009 a
100,7
4723,1
272114
2009 04
102,8
4781,0
279254
2010 01
100.0
4628.3
285181
2010 a2
99,6
4850,3
285081
2010 03
99,7
4952,0
287759
2010 04
99,1
4992
291987
201101
98,1
4743.9
298502
2011 02
97,0
5005,4
297143
2011 03
95,9
4993,6
300427
2011 04
94,2
SO60,2
30s061
2012 01
93,2
4714.8
303049
2012 02
91,3
4904,9
300717
2012 03
90.4
4932,5
297164
2012 04
89,8
4888,5
299684
2013 01
88,4
4309,5
297449
2013 02
86,3
4642.3
295698
2013 03
842
4589,3
294688
2013 04
82,1
4453,9
299411
2014 Q1
30,0
4169,4
299858
2014 02
78,4
4403,7
297151
2014 03
77,1
4489,8
299744
2014 04
75,6
4345,6
302883
2015 Q1
74,8
4189,7
305042
2015 02
74,5
4492.5
304051
2015 03
74,2
4576,8
303611
2015 04
74,2
4567,9
305911
2016 Q1
73,6
4380,7
313919
2016 02
73,2
4717,5
314844
2016 03
73,3
4874,4
315769
2016 04
73,5
4900,3
316701
2017 Q1
73,7
4677,9
317149
2017 02
74,2
SO37,5
317598
2017 03
74,5
5187,1
318049
2017 04
74,8
5137,3
318500
2018 Q1
75,2
4976.6
325119
2018 2
75,5
5445,3
326243
2018 Q
76,0
5412,4
327370
53015
5173,2
2018 04
76,7
328501
2019 01
772
330 243

b. Add in the table provided in the spreadsheet a dummy variable that takes
the value of 1in the fourth quarter of each year and show the table with
all the data
c. Using the data provided in the spreadsheet including the dummy variable
you have created for the fourth quarter of each year run a regression with
dependent variable the CBC house price index and independent variables
the other three variables (Nominal GDP, Number of Households, and the
dummy variable for the fourth quarter). Present the typical regression
results output for this regression produced by Excel.
d. Explain what the particular numbers for the following statistics that you
presented in b) mean (no points will be given if you write general
definitions without interpreting the particular numbers that you have
presented):
a. R-squared
b. The t-statistics of the three independent variables
c. The coefficients of the three independent variables
e. Discuss if the signs that you get for the coefficients of each of the three
independent variables are correct or wrong and why
f. Write the house price index equation that can be constructed on the basis
of the estimated constant and the coefficients of the three independent
variables
g. Estimate/forecast the CBC house price index for the first quarter of 2021
assuming that the nominal GDP in the first quarter of 2021 was lower by
1.3% than its 2019-Q1 value and the number of households was higher
than its 2019-Q1 value by 1.6%. Show and explain clearly the
calculations by which you derived your answer.
h. Estimate/forecast the CBC house price index for the fourth quarter of
2021 assuming that the nominal GDP in the fourth quarter of 2021 will be
higher than its 2019-Q1 value by 2% and that the number of households
will be higher than its 2019-Q1 value by 3%. Show and explain clearly
the calculations by which you derived your answer.

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