Homework Help is Here – Start Your Trial Now!
Math
Statistics
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
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
See similar textbooks
icon
Related questions
Question

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: 

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.
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.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Point Estimation, Limit Theorems, Approximations, and Bounds
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman
SEE MORE TEXTBOOKS