Describe each of the five “Gauss Markov” assumptions, (define them) and explain in the context of the regression output
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Describe each of the five “Gauss Markov” assumptions, (define them) and explain in the context of the regression output
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- The following are all benefits of generalized additive models (GAMs), EXCEPT: Group of answer choices a)GAMs are less computationally demanding than linear regression. b)GAMs can model non-linear relationships that standard linear regression will miss. c)GAMs can potentially make more accurate predictions of the response than linear regression can. d)One can examine the effect of each predictor on the response individually while holding all of the other predictors fixed.The Simple Linear Regression model is Y = b0 + b1*X1 + u and the Multiple Linear Regression model with k variables is: Y = b0 + b1*X1 + b2*X2 + ... + bk*Xk + u Y is the dependent variable, the X1, X2, ..., Xk are the explanatory variables, b0 is the intercept, b1, b2, ..., bk are the slope coefficients, and u is the error term, Yhat represents the OLS fitted values, uhat represent the OLS residuals, b0_hat represents the OLS estimated intercept, and b1_hat, b2_hat,..., bk_hat, represent the OLS estimated slope coefficients. QUESTION 28 Suppose your estimated MLR model is: Y_hat = -30 + 2*X1 + 10*X2 Suppose the standard error for the estimated coefficient associated with X2 is equal to 5. Now, suppose that for some reason we multiply X2 by 5 and we re-estimate the model using the rescaled explanatory variable. What will be the value of the estimated coefficient of X2 and its standard error? The estimated coefficient of X2 will be equal to 50 and its standard error will be…A study of IT companies has found the following data on the age of each company and its annual volume of sales: Age (years) Sales (000) 2 22 2.5 34 3 33 4 37 4.5 40 4.5 45 5 49 3 30 6 58 6.5 58 (a) Determine the least squares regression that relates the age of company variable to the sales variable in the form y = a + bx. (b) Provide a practical interpretation of the coefficients a and b. (c) Determine the ‘goodness of fit’ (R2) of the estimated regression line. d) Using the estimated regression line determined in (a), calculate what volume of sales would be predicted for a company that is 3.5 years of age. (e) If it was found that…
- Solve the second question in regression analysisDerive the least squares estimates of a and ß for the centred form of the simple linear regression model given by Yi = a + B(x; – I) + €; i= 1,2,..,n. Check that the estimates do give a minimum in the same way as we saw for the standard form of the simple linear regression model.The Simple Linear Regression model is Y = b0 + b1*X1 + u and the Multiple Linear Regression model with k variables is: Y = b0 + b1*X1 + b2*X2 + ... + bk*Xk + u Y is the dependent variable, the X1, X2, ..., Xk are the explanatory variables, b0 is the intercept, b1, b2, ..., bk are the slope coefficients, and u is the error term, Yhat represents the OLS fitted values, uhat represent the OLS residuals, b0_hat represents the OLS estimated intercept, and b1_hat, b2_hat,..., bk_hat, represent the OLS estimated slope coefficients. QUESTION 16 In a t-test, suppose a researcher sets the significance level at 0.5%. What does this mean? The probability that the null hypothesis is true is 0.5% The researcher would be rejecting the null hypothesis, only if the p-value is less than 0.5% The researcher would be rejecting the null hypothesis, if the t-statistic is higher than 0.5 It does not mean anything, because the significance level can only be set at 5% QUESTION 17 In an MLR…
- the following regression table where the dependent variable is the demandfor massage services in one city in the United States. Specifically, the dependent variable is the number of customers per hour (Models 1 and 2) or per day (Models 3 and 4). a) Explain why the coefficient for Population/1,000 in Model 2 is very different from the one in Model 4?I estimate a multiple linear regression model for portfolio using market size and value and adding as usual a constant ( to make sure that E(errors)=0 as per the GM assumptions request ). Then I wish to identify monthly effects so I generate a dummy for each month of the year , from January to December included . EViews will Select one: a. send out an error message saying : near singular matrix . This is happening because I fell into the dummy variable trap because the sum of all the dummy variables is at any point in time equal to 1 . As a consequence the OLS estimator is not identified b. send out an error message saying : near singular matrix . This is happening because I fell into the dummy variable trap because the costant (c) multiplies the regressor 1 and the sum of all the dummy variable is at any point in time equal to 1 . As a consequence the model is not identified and no estimator can estimate the betas c. send out an error message saying : near singular…Square Feet Sum of Bedrooms and Bathrooms Age of the Home Sales Price Square Feet Residual Plot Square Feet Line Fit Plot 1,610 5 70 227,900 800,000 2,146 6 59 284,900 700,000 816 4 70 149,900 FO000 600,000 2,183 6.5 48 309,900 40000 1,046 5.5 64 134,900 500.000 20000 5,183 10.5 21 440,000 400,000 • 2 000 1,150 4 62 150,000 1,000 4,000 5.000 6,000 2000 0 300,000 1,068 70 154,900 4000 0 5,570 7 50 700,000 200,000 6000 0 2,449 6. 53 257,000 100,000 BO00 0 1,950 59 239,900 1000 00 2,630 7.5 73 349,900 Square Feet 1,000 2,000 3,000 4,000 5,000 6,000 Square Feet 2,732 7.5 20 339,900 1,908 5 46 289,000 3,666 6.5 17 399,900 Sum of Bedrooms and Bathrooms Residual Plot Sum of Bedrooms and Bathrooms Line Fit Plot 80000 1,878 7 19 290,000 800,000 2,172 62 278,000 60000 700,000 40000 600,000 SUMMARY OUTPUT 20000 500,000 400,000 Regression Statistics 12 2000 0 Multiple R 0.949366054 300,000 R Square 0.901295904 4000 0 200,000 Adjusted R Square 0.878518035 6000 0 100,000 Standard Error 47571.46177…