Consider the linear regression model Y; = Bo+ B1 X; + U¡ for each i = 1, .., n with n = 1,000. X; represents the annual income ofindividual i (measured in $10,000) and Y¡ represents the home size (measured in square feet). We run an OLS regression and get:= 43.2, SE(B„) = 10.2,%3D%3DBo.n=D700, SE(Bom) = 7.4.SE( o.m) = 7.4.%3DSuppose that E- X; = 7. Which one of the following is correct about Y ?%3DY, = 700 + 43.2 * 7b. -E- Y, = 700 + 43.2 * 70, 000c. E- Y; = 700 – 43.2 * 70, 000a.%3D%3DС.d.- Y, = 700 – 43.2 * 7

Answered: Image /qna-images/answer/8644c5ae-cf19-4653-87d4-add19254473b.jpg

Answered: Consider the linear regression model Y,…

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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In simple linear regression: a. The size of the coefficient for each IV gives you the size of the effect that varilable has on the DV. b. The sign of the coefficient gives you the direction of the effect. c. With a single IV, the coefficient tells you how much the DV is expected to increase or decrease when the IV increased by one unit. d. All of the above.
A student used multiple regression analysis to study how family spending (y) is influenced by income (X1), family size (x2), and additions to savings (x3). The variables y, x1, and x3 are measured in thousands of dollars. The following results were obtained.
A set of n = 25 pairs of scores (X and Y values) produces a regression equation Y = 3X – 2. Findthe predicted Y value for each of the following X scores: 0, 1, 3, -2.
Data from 147 colleges from 1995 to 2005 (Lee,2008) were tested to predict the endowments (in billions) to a college from the average SAT score of students attending the college. The resulting regression equation was Y = -20.46 + 4.06 (X). This regression indicates that: a. for every one-point increase in SAT scores, a college can expect 4.06 billion more in endowments. b. most colleges have very high endowments. c. for every one-point increase in SAT scores, a college can expect 20.46 billion fewer in endowments. d. for every one-dollar increase in endowments, the college can expect a half-point increase in SAT scores.
A researcher is interested in finding out the factors which determined the yearly spending on family outings last year (Y, measured in dollars). She compiles data on the number of members in a family (X1), the annual income of the family (X2), and the number of times the family went out on an outing in the last year (X3). She collects data from 196 families and estimates the following regression: Y=120.45+1.54X1+2.12X2+2.12X3. Suppose β1, β2, β3, denote the population slope coefficients of X1, X2, and X3, respectively. The researcher wants to check if neither X1 nor X2 have a significant effect on Y or at least one of them has a significant effect, keeping X3 constant. She calculates the value of the F-statistic for the test with the two restrictions (H0: β1=0, β2=0 vs. H1: β1≠0 and/or β2≠0) to be 3.00. The p-value for the test will be enter your response here?
Use Excel to Run the Regressions:1. Wage and Age: Do you think a worker’s wage is related to his/her age? It is expected that wagesincrease with age up to certain age, after that wages go down. The “Wage Quadratic Data” fileposted contains data on the hourly wage (in $) for construction workers, workers’ ageand whether the worker has a bachelor’s degree or not (Graduate equals 1 if the worker has abachelor’s degree and 0 otherwise). Use the data file to answer the following questions:A) Build a model to predict the hourly wage of construction workers based on their education andage.B) Use the model to predict the hourly wage for a college graduate construction worker if his/herage is 30, 50, and 70c) Based on your model, calculate the age at which the hourly wage for construction workers ismaximized.
The table below shows the number of state-registered automatic weapons and the murder rate for several Northwestern states. x 11.3 8.5 y 13.4 7 3.6 2.6 2.2 2.6 0.8 11 10.2 7.4 6 5.7 6.3 4.9 * = thousands of automatic weapons y = murders per 100,000 residents Determine the regression equation in y = ax + b form and write it below. (Round to 2 decimal places) A) How many murders per 100,000 residents can be expected in a state with 10.1 thousand automatic weapons? Answer = Round to 3 decimal places. B) How many murders per 100,000 residents can be expected in a state with 9.9 thousand automatic weapons? Answer = Round to 3 decimal places.
The City of Bellmore’s police chief believes that maintenance costs on high-mileage police vehicles are much higher than those costs for low-mileage vehicles. If high-mileage vehicles are costing too much, it may be more economical to purchase more vehicles. An analyst in the department regresses yearly maintenance costs (Y) for a sample of 200 police vehicles on each vehicle’s total mileage for the year (X). The regression equation finds: Y = $50 + .030X with a r2 of .90 What is the IV? What is the DV? If the mileage increases by one mile, what is the predicted increase in maintenance costs? If a vehicle’s mileage for the year is 50,000, what is its predicted maintenance costs? What does an r2 of .90 tell us? Is this a strong or weak correlation? How can you tell?
The police chief believes that maintenance costs on high-mileage police vehicles are much higher than those costs for low-mileage vehicles. If high-mileage vehicles are costing too much, it may be more economical to purchase more vehicles. An analyst in the department regresses yearly maintenance costs (Y) for a sample of 200 police vehicles on each vehicle’s total mileage for the year (X). The regression equation finds: Y = $50 + .030X with a r2 of .90 If a vehicle’s mileage for the year is 50,000, what is its predicted maintenance costs? What does an r2 of .90 tell us? Is this a strong or weak correlation? How can you tell?

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