New Jersey has a population of 7.7 million people. Suppose that New Jersey increased the tax on a case of beer by $1 (in 1988 dollars). Use the results in column (4) to predict the number of lives that would be saved over the next year. The predicted number of saved lives over the next year is: Construct a 95% confidence interval for your answer. The 95% confidence interval for the number of lives that would be saved over the next year is:
New Jersey has a population of 7.7 million people. Suppose that New Jersey increased the tax on a case of beer by $1 (in 1988 dollars). Use the results in column (4) to predict the number of lives that would be saved over the next year. The predicted number of saved lives over the next year is: Construct a 95% confidence interval for your answer. The 95% confidence interval for the number of lives that would be saved over the next year is:
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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New Jersey has a population of 7.7 million people. Suppose that New Jersey increased the tax on a case of beer by $1 (in 1988 dollars). Use the results in column (4) to predict the number of lives that would be saved over the next year.
The predicted number of saved lives over the next year is:
Construct a 95% confidence interval for your answer.
The 95% confidence interval for the number of lives that would be saved over the next year is:
Transcribed Image Text:Regression Analysis of the Effect of Drunk Driving Laws on Traffic Deaths
Dependent variable: traffic fatility rate (deaths per 10,000).
Regressor
(1)
0.38*
(0.075)
(2)
- 0.76**
(0.24)
(3)
(4)
-0.60*** -0.41
(5)
-0.75**
(6)
(7)
- 1.05*
(0.31)
0.031
-0.42
Beer tax
(0.33)
- 0.013
(0.081)
-0.079
(0.089)
(0.38)
(0.34)
(0.34)
0.024
Drinking age 18
(0.108)
-0.082
(0.104)
(0.073)
-0.024
Drinking age 19
(0.056)
0.030
(0.051)
-0.107***
-0.114
Drinking age 20
(0.050)
(0.128)
- 0.004
Drinking age
(0.023)
0.036
Mandatory jail or
community service?
Average vehicle
miles per driver
0.044
(0.103)
0.000
(0.005)
- 0.069
(0.016)
1.68*
0.084
0.094
(0.118)
(0.105)
(0.182)
0.123
(0.045)
- 0.002*
(0.021)
0.019
0.008
(0.003)
- 0.082*
(0.018)
(0.011)
Unemployment rate
Real income per capita
(logarithm)
1.81*
1.02
(0.75)
(0.68)
(0.0)
Years
1982-88 1982 & 1988
1982-88
1982-88
1982-88
1982-88
1982-88
State Effects?
Time effects?
only
yes
yes
по
yes
yes
yes
yes
yes
no
по
yes
yes
yes
yes
Clustered standard errors?
no
yes
yes
yes
yes
yes
yes
F-Statistics and p-Values Testing Exclusion of Groups of Variables
4.38
10.66
3.94
10.77
37.03
Time effects = 0
(0.003) (<0.001)
(0.002)
(<0.001)
(<0.001)
0.48
1.57
0.43
Drinking age coefficients = 0
(0.704)
29.37
(0.226)
(0.768)
25.28
Unemployment rate,
income per capita = 0
31.22
(<0.001)
(<0.001)
(<0.001)
0.001
0.805
0.823
0.990
0.844
0.905
0.803
These regressions were estimated using panel data for 48 U.S. states. Regressions (1) through (6) use data for all years
1982 to 1988, and regression (7) uses data from 1982 and 1988 only. Standard errors are given in parentheses under
the coefficients, and p-values are given in parentheses under the F-statistics. The individual coefficient is statistically
significant at the ***10%, **5%, or *1% significance level.
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