An economist wants to determine how the number of houses called Starts (denoted by Y) isaffected by mortgage rates (denoted by X). A simple linear regression model was used, and thesummary statistics were calculated as follows:Select one:Ex=n = 10The standard error of estimate equal to1. 7926.52. 7962.503. 124.8884. 36.4685. 31.477x = 82Σxy=xy = 12543.4Σy²y² = 248400[x²= 1540x² =674.56

The formula of the standard error of the estimate is,Where, SSE denotes the sum of the squares of…

Answered: An economist wants to determine how the…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Personal wealth tends to increase with age as older individuals have had more opportunities to earn and invest than younger individuals. The following data were obtained from a random sample of eight individuals and records their total wealth (Y) and their current age (X). Data provided in the image. a. State the estimated regression line and interpret the slope coefficient.b. What is the estimated total personal wealth when a person is 50 years old?c. What is the value of the coefficient of determination? Interpret it. d. Test whether there is a significant relationship between wealth and age at the 10%significance level. Perform the test using the following six steps. Step 1. Statement of the hypothesesStep 2. Standardised test statisticStep 3. Level of significanceStep 4. Decision. Step 5. Calculation of test statistic. Step 6. Conclusion Please solve the d) part only.
1.
If the R-squared for a regression model relating the outcome y to an explanatory variable x is 0.9. This implies that there is a positive linear relationship between y and x. True or false?
Which of the following is not one of the uses of a scatter plot and regression line a. to estimate the average y at a specific value of x. b. All three are uses of the scatterplot and regression line c. to determine if a change in x causes a change in y d. to predict y at a specific value of x.
The following is the simple regression results based on the data from Madrigal Corporation: Dependent variable – Machine maintenance costs Independent variable – Machine hours Computed values Intercept P 3,500 Coefficient on independent variable P 3.50 Coefficient of correlation 0.856 R2 0.733 What percentage of the variation in maintenance costs is explained by the independent variable? (use two decimal places, e.g. 82.20%, 55.31% or 0.82, 0.55, these will be counted as correct answers)
Personal wealth tends to increase with age as older individuals have had more opportunitiesto earn and invest than younger individuals. The following data were obtained from a randomsample of eight individuals and records their total wealth (Y) and their current age (X). See attachment for table with figures State the estimated regression line and interpret the slope coefficient.b. What is the estimated total personal wealth when a person is 50 years old?c. What is the value of the coefficient of determination? Interpret it.d. Test whether there is a significant relationship between wealth and age at the 10%significance level. Perform the test using the following six steps.Step 1. Statement of the hypotheses Step 2. Standardised test statistic Step 3. Level of significance Step 4. Decision Rule
Accountants at the GIll Co and Charted Brothers Accounting believed that several traveling executives were submitting unusually high travel vouchers upon returning from business trips. First, they took a sample of 200 vouchers submitted from the past year. Then they developed the following multiple-regression equation relating expected travel cost (Y) to a number of days on the road (X1) and distance traveled (X2) in miles: Y = 90.00 + 48.50X1 + 0.40X2 Here is additional information concerning the regression model: Sb1 = 0.038 Sb2 =0.019 R2 = 0.68 Se = 1.63 F-Statistic = 32.123 Durbin-Watson (d) statistic = 0.5436 a. Which of the independent variables appear to be statistically significant (at the 0.05 significant level) in explaining the expected travel cost for accountants
The following regression model was fitted to sample data with 12 observations: = 30 +4.50x. What is the residual for an observation (x = 2, y = 40)? 0.50 -1 1 -0.50
in simple linear regression, given the following table : n = 25 E(y,-7) = 1407 %3D SSR = 472 Calculate the standard error of the estimate (s): Select one: Oa. 7.82 Ob. 6.38 Oc. 58.62 d. 34.63 Next
The following table contains ACT scores and the GPA for eight college students. Estimate the relationship between GPA (yi) and ACT (x;) using OLS regression by hand. Report the intercept and slope estimates: Student 1 2 3 4 5 6 7 8 GPA 2.8 3.4 3.0 3.5 3.6 3.0 2.7 3.7 ŷ₁ =B₁ + B₁x₁ ACT 21 24 26 27 29 25 25 30 y X ŷ₁
An econometric model is a multiple linear regression model if Question 10Select one: a. it explains the average value of y as a linear function of several explanatory variables b. it explains the sample mean of y as a function, linear in the parameters , of several x c. it explains y as a linear function of several x , the explanatory variables d. it explains the average of y as a function of several x e. none of the answers is correct
For the house sales data in Table 9.4, Table 9.12 shows a regression analysis relating selling price to number of bedrooms. What is the linear relationship between selling price and number of bedrooms? Variable price bedrooms Sum of Source DF Squares Model 1.575534E+11 1 Error 98 8.575962E+11 Total 99 1.01515E+12 Variable Intercept bedrooms O positive 4 O negative N Mean 100 155331 100 3.000 O no relationship TABLE 9.12 Root MSE 93547 R-Square 0.1552 Parameter Estimate -28412 61248 Std Dev 101262.2 0.651339 Mean Square 1.575534E+11 8750981211 Standard Error 44303 14435 t -0.64 4.24 Sig. 0.5228 <.0001

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