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- Let wage denote hourly wages, educ denote years of education, and define the dummy variable: if educ > 12 D = if educ < 12 i.e. we can think of D as a dummy variable indicating graduation from high school. Suppose we want to test the null hypothesis that the marginal return to education for every year after high school is the same as the marginal return to education for each year before high school (against the alternative that they are different). Which model and test would accomplish this goal? O a. Estimate wage = B1 + B2 educ + ß3 D + e and test Ho : ß3 = B2 against H1 : ß3 # B2. O b. Estimate wage = ß1 + B2educ + ß3 D + e and test Ho : ß3 = 0 against H1 : ß3 # 0. Estimate wage = B1 + B2educ + B3(educ + D) + e and test Ho : ß3 = 62 against H1 : B3 # B2. O d. Estimate wage = B1 + B2educ + B3(D × (educ – 11)) + e and test Ho : ß3 = B2 against H : B3 # B2. c. O e. Estimate wage = Bi + B2educ + ß3(D × (educ – 11)) + e and test Ho : ß3 = 0 against H1 : ß3 + 0.Your company just became international by offering its products in both the United States and Canada. Experts in your analytics department believe that tastes for your product differ in those two countries, and have carefully collected data on prices and quantity demanded in both countries. They then present you with the results of two regressions, one for each country, as follows: Log Price regressed on Log Quantity (United States): Standard Coefficients Error t Stat P-value Lower 95% Upper 95 % 1.67605E- Intercept 52.75573994 10.81051303 4.88040363 31.48708283 74.0239705 06 | Log Quantity -5.382266173 1.170584108 -4.597932039 6.15253E-06 -7.685279168 -3.079253177 Log Price regressed on Log Quantity (Canada): Standard Error Coefficients 22.8707593 10.64507785 -2.095788278 | 1.152727409 -1.818112644 0.069981782 t Stat 2.148482109 Upper 95% 43.8139384 P-value Lower 95% Intercept Log Quantity 0.032425603 1.9275802 -4.363669916 0.17209336 Assume you have adequate statistical significance…Consider the following scenario. A sports economist has collected data to test the relationship between shot quality and points per game for a sample of NBA players. The data is a panel dataset comprised of 2,000 NBA players with season-level performance statistics over the past 50 NBA seasons. The sports economist is worried that the player's primary playing position might be correlated with both shot quality and points per game, and position is easy to measure. However, historical changes in analytics have influenced the types of shots players across the league have taken over time, and these changes are generally difficult to quantify. To address the potential omitted variable bias that could arise because of this, the economist should include in their regression: Time fixed effects O Neither time nor entity fixed effects Both time and entity fixed effects O Entity fixed effects
- The estimated regression equation describing the relationship between the price (P) charged by a monopolist for his product and the quantity (Q) of the product purchased by consumers is given by: Q = 500,000 - 100 P. Results of a t-test reject the null hypothesis for the coefficient multiplying price. The correct interpretation of the B₁ coefficient (equal to -100) is: A) when price is equal to zero, then the average quantity sold is equal to 100 B) an increase in price by one dollar on average is associated with a 100 unit decrease in quantity C) a 1% increase in price is associated with a 100% decrease in quantity OD) an increase in quantity by one unit on average is associated with a $100 decrease in priceYou recently obtained a job with a sports analytics firm, and your first assignment is to write a report evaluating early evidence behind predictions for the 2019-20 NBA season. You will use your knowledge of hypothesis testing to assess the predictions. 1. When conducting a hypothesis test for the population mean, you will not know the population standard deviation, so you will have to use the sample standard deviation instead. How will this affect the process?Select the scenario which is an example of voluntary sampling. Answer Keypad Keyboard Shortcuts Tables An airline is interested in getting feedback about their on-board catering experience. They place a questionnaire in the pocket behind each airline seat for passengers to O fill out. An urban planner is interested in determining the traffic volume along a particular road. To estimate the traffic volume, he counts the number of cars that go by during the next 30 minutes. O To determine the mean domestic electricity consumption in the region, the electric company collects data from randomly selected households in the given region. A fitness center has 400 male clients and 300 female clients. They plan to buy new equipment, so they randomly select 80 male clients and 60 female clients and ask them what equipment they use the most.
- Econometrics Thomas Eisensee and David Stromberg wanted to measure how much news coverage of a foreign disaster impacted the amount of disaster relief provided by the U.S. government. They argue that the simple relationship would be biased. Let X = Minutes of News Coverage and Y= Disaster Aid. Choose a variable X2 that could bias the simple relationship. This variable should impact the amount of coverage and impact the amount of aid for reasons other than purely news coverage. Eisensee and Stromberg introduce an instrument Z = During the Olympics. Explain how Z could satisfy the relevant and exogenous criteria. Explain how you could use Z to estimate the impact of X on Y free from X2 bias. Hint: you should mention two stages.Suppose the researcher considers the following model : Wage = Bo+B,Female + u, and runs OLS, using wage data on 250 randomly selected male workers and 280 female workers. The researcher has obtained the estimated equation as Wage = 15 (1.00) 3 Female, R = 0.05. (0.5) In the equation, Wage is measured in dollars per hour, Female is a binary variable that is equal to 1 if the person is a female and O if the person is a male. The numbers in the parentheses are the standard errors of the coefficients. Which Statement is NOT correct? The coefficient of Female, -3.00, is statistically significant at 5%. O The p-value for the test that Ho: B = 0, H : B 0 is less than 0.05. This regression may suffer omitted variable bias. R Since insignificant. is too low, the wage difference between men and women is The researcher can increase R- by including more regressors in the model.the unemployment rate for 18- to 34-year-olds was reported to be 10.8% (the Cincinnati Enquirer, november 6, 2012). assume that this report was based on a random sample of four hundred 18- to 34-year-olds. a. a political campaign manager wants to know if the sample results can be used to conclude that the unemployment rate for 18- to 34-years-olds is significantly higher than the unemployment rate for all adults. according to the bureau of labor Statistics, the unemployment rate for all adults was 7.9%. develop a hypothesis test that can be used to see if the conclusion that the unemployment rate is higher for 18- to 34-year-olds can be supported.b. use the sample data collected for the 18- to 34-year-olds to compute the p-value for the hypothesis test in part (a). using a 5 .05, what is your conclusion?c. explain to the campaign manager what can be said about the observed level of significance for the hypothesis testing results using the p-value
- 19. The White test test statistic is n*R² ~x²(S-1). Where is the R² in the test statistic measured? A. The original econometric model when estimated using the White Robust Estimator B. The average from all the auxiliary regressions estimated with each explanatory variable as a function of the other explanatory variables C. The original econometric model before any test of heteroskedasticity has been performed D. The auxiliary regression of residuals as a function of the explanatory variables generating the heteroscedasticity 20. With annual times series data of 50 observations, how many observations are available to estimate the consumption econometric model CONt = Bo+ ß₁DISPYt + B₂CONt-1+ut A. 50 B. 47 C. 45 D. 49 21. Suppose the estimated simple linear demand equation for single-game tickets for a major football league is q=4.58-0.51p where q is the number of tickets sold measured in thousands and p is the dollar price of a ticket. Further assume that the point of the means_is…Write both a null and research hypothesis for the following variables: study time and academic success exam scores and hours spent sleeping parental support and disciplinary conduct problemsQuestions 8-12 are related to the following: Consider the following hypothesis test. Ho: μ 2 120 H1: µ< 120 8 This test is: An upper-tail test. A lower-tail test. a A two-tail test. d A closed-interval test. You obtain the following random sample to test the hypothesis in the previous question. 134 100 90 128 156 123 138 123 114 106 63 161 114 82 113 113 83 75 123 112 138 141 141 130 60 143 102 128 84 119 142 89 126 159 72 126 112 60 119 97 136 153 116 132 89 110 94 145 107 130 98 124 139 134 126 106 122 95 153 100 96 177 127 107 108 71 79 140 98 168 138 143 76 118 107 115 102 143 98 126 141 153 99 99 119 107 73 158 143 108 111 104 67 128 86 109 91 190 113 99 142 156 123 95 138 107 153 108 116 118 139 125 123 102 127 114 83 127 126 124 84 109 102 129 83 87 116 89 84 128 105 88 130 124 131 93 145 147 138 98 113 155 114 81