Homework Help is Here – Start Your Trial Now!
Math
Statistics
Question 5 Suppose we have the PRF represented as the equation In Y₁ = b + b, ln X₁, + b₂ ln X₂, + b₂ ln X² + U₁, u.-iid N(0,0¹) The corresponding SRF is represented as the equation In Y, =B₁ + B, In X₁, + B₂ ln X₂ + B₂ ln X² + e, We use sample data and OLS method to get the estimation output In Y, = 2.03+0.48 In X₁-0.35 In X₂ -0.06 In X3 se = (0.10)(0.12) (0.13) (0.13) R² = 0.98 In which Y: is consumption of chicken X₁,: is real income X2 is real price of chicken X: is real price of beef se indicates the standard error of the estimated coefficients. In indicates the logarithm of the variables, for example, In Y=log(Y). Questions: (3) Given the critical value at 5% significant level of two-sided t-test is 2.3, for b₁ b₂ and b₂, which one (ones) is (are) significant at 5% significant level and why? (4) Construct the 95% confidence interval for b.

Question 5 Suppose we have the PRF represented as the equation In Y₁ = b + b, ln X₁, + b₂ ln X₂, + b₂ ln X² + U₁, u.-iid N(0,0¹) The corresponding SRF is represented as the equation In Y, =B₁ + B, In X₁, + B₂ ln X₂ + B₂ ln X² + e, We use sample data and OLS method to get the estimation output In Y, = 2.03+0.48 In X₁-0.35 In X₂ -0.06 In X3 se = (0.10)(0.12) (0.13) (0.13) R² = 0.98 In which Y: is consumption of chicken X₁,: is real income X2 is real price of chicken X: is real price of beef se indicates the standard error of the estimated coefficients. In indicates the logarithm of the variables, for example, In Y=log(Y). Questions: (3) Given the critical value at 5% significant level of two-sided t-test is 2.3, for b₁ b₂ and b₂, which one (ones) is (are) significant at 5% significant level and why? (4) Construct the 95% confidence interval for b.

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
Question 5 Suppose we have the PRF represented as the equation In Y₁ = b + b₂ ln X₁, + b₂ ln X₂, + b² ln X3, +u, u, -iid N(0,0¹) The corresponding SRF is represented as the equation In Y, =B₁ + B, In X₁, + B₂ In X₂, + B₂ In X3, + e, We use sample data and OLS method to get the estimation output In Y, = 2.03 +0.48 In X₁,-0.35 In X₂ -0.06 In X3 se = (0.10)(0.12) (0.13) (0.13) R² = 0.98 In which Y: is consumption of chicken X₁,: is real income X₂, is real price of chicken X: is real price of beef se indicates the standard error of the estimated coefficients. In indicates the logarithm of the variables, for example, In Y=log(Y). Questions: (3) Given the critical value at 5% significant level of two-sided t-test is 2.3, for b₁ b₂ and b₂, which one (ones) is (are) significant at 5% significant level and why? (4) Construct the 95% confidence interval for b₁.
Transcribed Image Text:Question 5 Suppose we have the PRF represented as the equation In Y₁ = b + b₂ ln X₁, + b₂ ln X₂, + b² ln X3, +u, u, -iid N(0,0¹) The corresponding SRF is represented as the equation In Y, =B₁ + B, In X₁, + B₂ In X₂, + B₂ In X3, + e, We use sample data and OLS method to get the estimation output In Y, = 2.03 +0.48 In X₁,-0.35 In X₂ -0.06 In X3 se = (0.10)(0.12) (0.13) (0.13) R² = 0.98 In which Y: is consumption of chicken X₁,: is real income X₂, is real price of chicken X: is real price of beef se indicates the standard error of the estimated coefficients. In indicates the logarithm of the variables, for example, In Y=log(Y). Questions: (3) Given the critical value at 5% significant level of two-sided t-test is 2.3, for b₁ b₂ and b₂, which one (ones) is (are) significant at 5% significant level and why? (4) Construct the 95% confidence interval for b₁.
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar 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