Four hundred driver's license applicants were randomly selected and asked whether they passed their driving test (Pass; = 1) or failed theirtest (Pass; = 0); data were also located on their gender (Male; = 1 if male and = 0 if female) and their years of driving experience(Experience,, in years). The following table summarizes the results from several probit, logit and linear probability models.Dependent variable: Pass.Regression ModelLogitLPMProbitProbit(1)Logit(2)LPM(3)Probit(4)Regressor(5)(6)0.0390.0430.0080.045Experience(0.008)(0.014)(0.003)(0.158)-0.623-0.071-0.171Male- 0.338(0.162)(0.307) (0.035)(0.261)-0.012Malex Experience(0.022)0.8020.7181.0570.7791.2882.1970.904Constant(0.128)(0.221) (0.036) (0.127) (0.244)(0.023)(0.202)Use the results in column (2) to answer the following questions.Is the coefficient on Experience significant at any reasonable level?OA. The coefficient on Experience is significant at the 5%, but not at the 1% significance level.B. The coefficient on Experience is significant at the 10%, but not at the 5% or 1% significance level.C. The coefficient on Experience is not significant at any reasonable level.D. The coefficient on Experience is significant at the 1% significance level.John has 20 years of driving experience. What is the predicted probability that he will pass the test?The predicted probability that John will pass the test is

ependent variable: Pass. egression Model Probit Logit LPM Probit Logit egressor (1) (2) (3) (4) (5) 0.039 0.043 0.008 perience (0.008) (0.014) (0.003) -0.338 -0.623 ale (0.162) (0.307) alex Experience 0.718 1.057 0.779 1.288 2.197 onstant (0.128) (0.221) (0.036) (0.127) (0.244) Its in column (2) to answer the following questions. ient on Experience significant at any reasonable level? coefficient on Experience is significant at the 5%, but not at the 1% significance level. coefficient on Experience is significant at the 10%, but not at the 5% or 1% significance level. coefficient on Experience is not significant at any reasonable level. coefficient on Experience is significant at the 1% significance level. years of driving experience. What is the predicted probability that he will pass the test? The predicted probability that John will pass the test is LPM (6) -0.071 (0.035) 0.904 (0.023)

ependent variable: Pass. egression Model Probit Logit LPM Probit Logit egressor (1) (2) (3) (4) (5) 0.039 0.043 0.008 perience (0.008) (0.014) (0.003) -0.338 -0.623 ale (0.162) (0.307) alex Experience 0.718 1.057 0.779 1.288 2.197 onstant (0.128) (0.221) (0.036) (0.127) (0.244) Its in column (2) to answer the following questions. ient on Experience significant at any reasonable level? coefficient on Experience is significant at the 5%, but not at the 1% significance level. coefficient on Experience is significant at the 10%, but not at the 5% or 1% significance level. coefficient on Experience is not significant at any reasonable level. coefficient on Experience is significant at the 1% significance level. years of driving experience. What is the predicted probability that he will pass the test? The predicted probability that John will pass the test is LPM (6) -0.071 (0.035) 0.904 (0.023)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

F (Exercise 1.8) If A(3) =$3000 and in 0.01n, find A(5). A(5) = $
The market demand for the newest smartphone is 1 million units. The selling price for the LG phone is $400.00. The cost is $100 per unit. LG currently has market share of 10 percent. The marketing and sales expense is $5 million. Assume market demand grows by 20%. Given the 20% increase in market demand, LG maintains its market share of 10%, selling price of $400, unit cost of $100, and marketing and sales expense of $5 million. What is the new net marketing contribution (NMC)? O a. $36 million Ob. $31 million O. S7 million O d. $12 million
250 to 300 words Required) If you ask to design an Advertising Campaign for NEW HONDA CITY 6th Generation in which you need to focus towards the Penetration Pricing Strategy in Advertisement then which Message execution style will you follow?
Problem 2: As a building designer, you have been asked to analyze and select the best window frame type alternative-either aluminum or steel. The project is located in a remote area, and the nearest industrial area hosting steel and aluminum windows frames manufacturers is 250 km away. All project windows are identical, and the circumference of the window frame is 6.2 meter. A crew of two labors is required to manufacture one steel frame. It takes 2.5 hours to manufacture the first window every day, and the learning rate is 0.9. The number of production units is per day is limited to 8. The weight of steel is 12 kg per meter, and the weight of aluminum is 4.5 kg per meter. The cost of steel is 0.4 OMR per kg and the cost of aluminum 1.1 OMR per kg. If 45 windows frames are required for the project, the crew cost is 3 OMR per hour for steel frames and 3.6 for aluminum frames, and the transportation, price is 0.01 OMR per kg per 50 km, which alternative would you select?
Jenni has decided to start knitting during quarantine. She decides to open an etsy shop where she can sellknitted hats. Each hat costs $4.50 in materials to produce, in addition to the fee of $150 to license her shop.She plans on selling each hat for $24.50. (a) Write the cost, revenue, and profit equations for Jenni’s hat buisness. (b) Determine the profit if 13 hats are sold.(c) Determine thebreak-evenpoint.
The following figure represents the Marginal Abatement Cost curves of two paper towel factories: Unbleached Factory, Number 1 and Bleached Factory, Number 2 in the figure. Their MAC functions are: MAC1 = 61.5E1 and MAC2 = 6 -0.75E2 E1 and E2 are the emissions of the two firms in tonnes.
The total cost a power plant ($/megawatts) to produce electricity is Y=12+1.3X+0.24 X2 , where X is in megawatts. The estimated selling price of electricity is (16-0.23X) per megawatts. Find the value of X that maximizes profit. Group of answer choices Less than 10 megawatts Between 10-12 megawatts Between 12-14 megawatts More than 14 megawatts Dont
Find f'(x). 2 X +2 f(x) = 7x - 6 f'(x) = %3D
Q Total Cost ATC AFC MC 0 10 - - - 10 12 12/10=1.2 10/10=1 12-10/10-0=0.2 20 16 16/20=0.8 10/20=0.5 16-12/20-10=0.4 30 26 26/30=0.867 10/30=0.333 26-16/30-20=1 40 38 38/40=0.95 10/40=0.25 38-26/40-30=1.2 50 75 75/50=1.2 10/50=0.2 75-38/50-40=3.7 60 120 120/60=2 10/60=0.167 120-75/60-50=4.5 If the market price is $1.00 then what output or q (in the units of 10) is the most profitable production level?
A company finds that it can sell out a certain product that it produces, at the rate of Tk. 2 per unit. 1 It estimates the cost function of the product to be Tk. 1000 + 2 50 for q units produced. (i) Find the expression for the total profit, if q units are produced and sold. (ii) Find the number of units produced that will maximize profit. (iii)What is the amount of this maximum profit? (iv) What would be the profit if 6000 units were produced?