Homework Help is Here – Start Your Trial Now!
Math
Advanced Math
Data on 220 reported crimes is collected from district X in 2016. Suppose CS denotes the total cost to the state of offering crime protection services to this district (in thousand dollars), LEOP denotes the number of law enforcement officers on patrol, DTP denotes the damage to public and private property (in thousand dollars), CCTV denotes the number of CCTV cameras installed in the district, and Prison denotes the number of prison inmates. The following table shows the results of a few regressions of the total cost to the state. Dependent variable: total cost to the state (in thousand dollars) Regressor LEOP DTP (1) 12.32 (2) 17.99 (3) 14.55 (4) 18.1 (0.52) (0.84) (2.25) (0.82) 0.73 0.59 (0.06) (0.12) 0.75 (0.04) CCTV 2.12 Prison (0.5) 0.73 (0.13) 2.11 (0.39) 182.5 191.6 219.95 288.5 Intercept (11.52) (6.68) (5.26) (4.14) =2 0.12 0.75 0.64 R n 220 220 220 0.75 220 Heteroskedasticity-robust standard errors are given in parentheses under coefficients. Which of the following statements correctly describe the reasons behind the differences observed in the coefficients in the given specifications? (Check all that apply.) A. The value of R² in the 1st specification suggests that the number of law enforcement officers on patrol alone explains a large fraction of the variation in total cost to the state. B. The number of CCTV cameras installed in the district appears to be redundant. As reported in regression (4), adding it to regression (2) has a negligible effect on the estimated coefficients on LEOP and DTP or their standard errors. C. th According to the 4 specification, reducing the number of law enforcement officers on patrol by one officer is estimated to decrease total cost to the state by approximately $18.10, holding constant other factors. D. The significant rise in the coefficient on LEOP from the 1st specification to the 4th shows the presence of omitted variable bias in the 1st specification.

Data on 220 reported crimes is collected from district X in 2016. Suppose CS denotes the total cost to the state of offering crime protection services to this district (in thousand dollars), LEOP denotes the number of law enforcement officers on patrol, DTP denotes the damage to public and private property (in thousand dollars), CCTV denotes the number of CCTV cameras installed in the district, and Prison denotes the number of prison inmates. The following table shows the results of a few regressions of the total cost to the state. Dependent variable: total cost to the state (in thousand dollars) Regressor LEOP DTP (1) 12.32 (2) 17.99 (3) 14.55 (4) 18.1 (0.52) (0.84) (2.25) (0.82) 0.73 0.59 (0.06) (0.12) 0.75 (0.04) CCTV 2.12 Prison (0.5) 0.73 (0.13) 2.11 (0.39) 182.5 191.6 219.95 288.5 Intercept (11.52) (6.68) (5.26) (4.14) =2 0.12 0.75 0.64 R n 220 220 220 0.75 220 Heteroskedasticity-robust standard errors are given in parentheses under coefficients. Which of the following statements correctly describe the reasons behind the differences observed in the coefficients in the given specifications? (Check all that apply.) A. The value of R² in the 1st specification suggests that the number of law enforcement officers on patrol alone explains a large fraction of the variation in total cost to the state. B. The number of CCTV cameras installed in the district appears to be redundant. As reported in regression (4), adding it to regression (2) has a negligible effect on the estimated coefficients on LEOP and DTP or their standard errors. C. th According to the 4 specification, reducing the number of law enforcement officers on patrol by one officer is estimated to decrease total cost to the state by approximately $18.10, holding constant other factors. D. The significant rise in the coefficient on LEOP from the 1st specification to the 4th shows the presence of omitted variable bias in the 1st specification.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
See similar textbooks
icon
Related questions
Question

please answer correctly:

Data on 220 reported crimes is collected from district X in 2016. Suppose CS denotes the total cost to the state of offering crime protection services to this district (in thousand dollars), LEOP denotes the number of law enforcement officers on patrol, DTP denotes the damage to public and private property (in thousand dollars), CCTV denotes the number of CCTV cameras installed in the district, and Prison denotes the number of prison inmates. The following table shows the results of a few regressions of the total cost to the state. Dependent variable: total cost to the state (in thousand dollars) Regressor LEOP DTP (1) 12.32 (2) 17.99 (3) 14.55 (4) 18.1 (0.52) (0.84) (2.25) (0.82) 0.73 0.59 (0.06) (0.12) 0.75 (0.04) CCTV 2.12 Prison (0.5) 0.73 (0.13) 2.11 (0.39) 182.5 191.6 219.95 288.5 Intercept (11.52) (6.68) (5.26) (4.14) =2 0.12 0.75 0.64 R n 220 220 220 0.75 220 Heteroskedasticity-robust standard errors are given in parentheses under coefficients. Which of the following statements correctly describe the reasons behind the differences observed in the coefficients in the given specifications? (Check all that apply.) A. The value of R² in the 1st specification suggests that the number of law enforcement officers on patrol alone explains a large fraction of the variation in total cost to the state. B. The number of CCTV cameras installed in the district appears to be redundant. As reported in regression (4), adding it to regression (2) has a negligible effect on the estimated coefficients on LEOP and DTP or their standard errors. C. th According to the 4 specification, reducing the number of law enforcement officers on patrol by one officer is estimated to decrease total cost to the state by approximately $18.10, holding constant other factors. D. The significant rise in the coefficient on LEOP from the 1st specification to the 4th shows the presence of omitted variable bias in the 1st specification.
Transcribed Image Text:Data on 220 reported crimes is collected from district X in 2016. Suppose CS denotes the total cost to the state of offering crime protection services to this district (in thousand dollars), LEOP denotes the number of law enforcement officers on patrol, DTP denotes the damage to public and private property (in thousand dollars), CCTV denotes the number of CCTV cameras installed in the district, and Prison denotes the number of prison inmates. The following table shows the results of a few regressions of the total cost to the state. Dependent variable: total cost to the state (in thousand dollars) Regressor LEOP DTP (1) 12.32 (2) 17.99 (3) 14.55 (4) 18.1 (0.52) (0.84) (2.25) (0.82) 0.73 0.59 (0.06) (0.12) 0.75 (0.04) CCTV 2.12 Prison (0.5) 0.73 (0.13) 2.11 (0.39) 182.5 191.6 219.95 288.5 Intercept (11.52) (6.68) (5.26) (4.14) =2 0.12 0.75 0.64 R n 220 220 220 0.75 220 Heteroskedasticity-robust standard errors are given in parentheses under coefficients. Which of the following statements correctly describe the reasons behind the differences observed in the coefficients in the given specifications? (Check all that apply.) A. The value of R² in the 1st specification suggests that the number of law enforcement officers on patrol alone explains a large fraction of the variation in total cost to the state. B. The number of CCTV cameras installed in the district appears to be redundant. As reported in regression (4), adding it to regression (2) has a negligible effect on the estimated coefficients on LEOP and DTP or their standard errors. C. th According to the 4 specification, reducing the number of law enforcement officers on patrol by one officer is estimated to decrease total cost to the state by approximately $18.10, holding constant other factors. D. The significant rise in the coefficient on LEOP from the 1st specification to the 4th shows the presence of omitted variable bias in the 1st specification.
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Advanced Engineering Mathematics
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Mathematics For Machine Technology
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,
Basic Technical Mathematics
Basic Technical Mathematics
Advanced Math
ISBN:
9780134437705
Author:
Washington
Publisher:
PEARSON
Topology
Topology
Advanced Math
ISBN:
9780134689517
Author:
Munkres, James R.
Publisher:
Pearson,
SEE MORE TEXTBOOKS