Suppose the following regression results were presented to you for consideration: ŷi = 75.05 - 3.02Xi, where Yi is the average 8th grade MCAS score for students in principality i, and Xi is the average student-teacher ratio in municipality i. Please answer the following: Is this a time series or a cross-sectional regression? Sketch the regression line. What is the interpretation of the intercept in this example? Does it make economic sense? How would you interpret the slope coefficient? Is it possible to tell what
Suppose the following regression results were presented to you for consideration: ŷi = 75.05 - 3.02Xi, where Yi is the average 8th grade MCAS score for students in principality i, and Xi is the average student-teacher ratio in municipality i. Please answer the following: Is this a time series or a cross-sectional regression? Sketch the regression line. What is the interpretation of the intercept in this example? Does it make economic sense? How would you interpret the slope coefficient? Is it possible to tell what
Chapter4: Linear Functions
Section: Chapter Questions
Problem 30PT: For the following exercises, use Table 4 which shows the percent of unemployed persons 25 years or...
Related questions
Question
Suppose the following regression results were presented to you for consideration: ŷi = 75.05 - 3.02Xi, where Yi is the average 8th grade MCAS score for students in principality i, and Xi is the average student-teacher ratio in municipality i.
Please answer the following: Is this a time series or a cross-sectional regression? Sketch the regression line. What is the interpretation of the intercept in this example? Does it make economic sense? How would you interpret the slope coefficient? Is it possible to tell what the true PRF is in this example? Predict the MCAS score for a municipality with a student/teacher ratio of 25 students per teacher.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps
Recommended textbooks for you
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning