2. Consider the following regression model and the result of estimation:distance Bo + B,angle + u%3DWhere:distance = distance (in feet) traveled by a baseball,angle = the angle (in degrees) the baseball was hit,%3!u= regression error.Dependent Variable: DISTANCEMethod: Least SquaresSample: 1 13Included observations: 13VariableCoefficientStd. Errort-StatisticProb.C.ANGLE32.930840.7855425.1468191.9811910.00030.0731169.48911.556309a) Breusch-Godfrey test has been performed that produced the following result. Discussthe test result.Breusch-Godfrey Serial Correlation LM Test:Null hypothesis: No serial correlation at up to 2 lagsF-statistic6.534685 Prob. F(2,9)7.698535 Prob. Chi-Square(2)0.01770.0213Obs R-squaredb) RESET test has been performed that produced the following result. Discuss the testresult.Ramsey RESET TestEquation: EQ01Specification: DISTANCE C ANGLEOmitted Variables: Powers of fitted values from 2 to 3Value475.826060.71504dfProbabilityF-statisticLikelihood ratio(2, 9)0.00000.00004. c) Given below is the scatter plot between angle and distance.300275250225200-175-150.12510010203040506070ANGLERedraw the scatter plot and add the fitted line of the above-estimated model onthe same plot. Use this plot to explain the test result obtained in (b).(i)Based on the finding in c(i), propose the correct model and write the modelspecification.(ii)DISTANCE

e (in feet) traveled by a baseball, in degrees) the baseball was hit, or. ent Variable: DISTANCE Least Squares 1 13 d observations: 13 Variable Coefficient Std. Error t-Statistic Prob. 32.93084 0.785542 5.146819 1.981191 0.0003 0.0731 169.4891 ANGLE 1.556309 rey test has been performed that produced the following result. n-Godfrey Serial Correlation LM Test: pothesis: No serial correlation at up to 2 lags tic squared 6.534685 Prob. F(2,9) 7.698535 Prob. Chi-Square(2) 0.0177 0.0213 s been performed that produced the following result. Discuss t RESET Test

e (in feet) traveled by a baseball, in degrees) the baseball was hit, or. ent Variable: DISTANCE Least Squares 1 13 d observations: 13 Variable Coefficient Std. Error t-Statistic Prob. 32.93084 0.785542 5.146819 1.981191 0.0003 0.0731 169.4891 ANGLE 1.556309 rey test has been performed that produced the following result. n-Godfrey Serial Correlation LM Test: pothesis: No serial correlation at up to 2 lags tic squared 6.534685 Prob. F(2,9) 7.698535 Prob. Chi-Square(2) 0.0177 0.0213 s been performed that produced the following result. Discuss t RESET Test

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

2. Consider the following regression model and the result of estimation:
distance Bo + B,angle + u
%3D
Where:
distance = distance (in feet) traveled by a baseball,
angle = the angle (in degrees) the baseball was hit,
%3!
u= regression error.
Dependent Variable: DISTANCE
Method: Least Squares
Sample: 1 13
Included observations: 13
Variable
Coefficient
Std. Error
t-Statistic
Prob.
C.
ANGLE
32.93084
0.785542
5.146819
1.981191
0.0003
0.0731
169.4891
1.556309
a) Breusch-Godfrey test has been performed that produced the following result. Discuss
the test result.
Breusch-Godfrey Serial Correlation LM Test:
Null hypothesis: No serial correlation at up to 2 lags
F-statistic
6.534685 Prob. F(2,9)
7.698535 Prob. Chi-Square(2)
0.0177
0.0213
Obs R-squared
b) RESET test has been performed that produced the following result. Discuss the test
result.
Ramsey RESET Test
Equation: EQ01
Specification: DISTANCE C ANGLE
Omitted Variables: Powers of fitted values from 2 to 3
Value
475.8260
60.71504
df
Probability
F-statistic
Likelihood ratio
(2, 9)
0.0000
0.0000
4.

c) Given below is the scatter plot between angle and distance.
300
275
250
225
200-
175-
150.
125
100
10
20
30
40
50
60
70
ANGLE
Redraw the scatter plot and add the fitted line of the above-estimated model on
the same plot. Use this plot to explain the test result obtained in (b).
(i)
Based on the finding in c(i), propose the correct model and write the model
specification.
(ii)
DISTANCE

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