The two stage least squares estimate of demand for cigarettes function gave In (Q₁) = 9.72 - 1.08 In (P;), n = 48, (1.53) (0.32) where Q₁ is cigarette consumption (number of packs of cigarettes sold per capita), Pi is the average real price per pack of cigarettes including all taxes and n is sample size. The numbers in parentheses are heteroskedasticity-robust errors. The instrument for In (P) is Sales Tax₁, the portion of the tax on cigarettes arising from the general tax, sales in dollars pack. per How is the coefficient on In (P;) usually referred to? If Paul buys 100 packs of cigarettes at the current price, what is his predicted consumption when price per pack decreases by 5%? a Is Sales Tax, a valid instrument for In (P;)? N Looking at the least squares regression estimate In (P) = 4.63 +0.031SalesTaxi, R² = 0.47, (0.03) (0.005) do you think SalesTax, is a weak instrument for In (P₁)?

The sum of squared residuals for the first group (SSR1) is 15.3 and for the second group (SSR2) is 25.7. Each group contains 12 observations after removing the central observations and this model has only one independent variable. Calculate the F-statistic (rounded to two dp) (a) 2.57 (b) 2.41 (c) 1.92 (d) 1.68 (e) 1.67

Derive that the variance of the forecasted error using Exponential Smoothing (ES) method is given by 20² Var(et) 2 – α Where o² is the variance of individual observation and a is the parameter in the ES method. =

The data in the table below presents the hourly quantity of production for three lines of production processes over the first 4 days in XYZ Company. Answer the questions based on the Excel Output given in the image.                                           a. State the null and alternative hypothesis for single factor ANOVA.                                         b. State the decision rule (α = 0.05).c. Calculate the test statistic and make a decision.

i)Fix the standard deviation of variance at sigma(0)=1.Sketch the graphs for N(-2,1) „N(0.1) ,N(2,1). ii)Fix the mean at =O.Then sketch the graphs for N(0,1) N(0,2), N(0,3).Interpret the graphs in terms of the distribution of the data about the mean.

A researcher collected a data set for a random sample of 930 individuals living in and around London, with data collected over 1-year period. The Table below reports the OLS coefficient estimates (intercept not reported) and standard errors (in parentheses), where the dependent variable is [100xIn(well-being)]. Commuting time/60 -0.267 (0.039) -0.14 (0.040) Age Age squared/100 0.12 (0.040) Hours worked -0.0053 (0.001) log real income 0.0267 (0.009) Married or cohabiting 0.589 (0.032) Num. of children. -0.051 (0.015) Saves Degree 0.299 (0.022) -0.022 (0.035) The explanatory variables are: Commuting time = Number of minutes of commuting time per day; Age= Age in years; Hours worked = Hours worked per week; Log of real household income = 100xLn(real household income measured in £10,000s); Num. of children = Number of children under the age of 18; Save regularly = 1 if save regularly, 0 otherwise; University degree = 1 if has a University degree, 0 otherwise. Calculate the test statistics…

A world wide fast food chain decided to carry out an experiment to assess the influence of income on number of visits to their restaurants or vice versa. A sample of households was asked about the number of times they visit a fast food restaurant (X) during last month as well as their monthly income (Y). The data presented in the following table are the sums and sum of squares. (use 2 digits after decimal point)     ∑ Y = 393   ∑ Y2 = 21027   ∑ ( Y-Ybar )2 = SSY = 1720.88   ∑ X = 324   ∑ X2 = 14272   ∑ ( X-Xbar )2 = SSX = 1150 nx=8 ny=11 ∑ [ ( X-Xbar )( Y-Ybar) ] =SSXY=1090.5         PART A Sample  mean income is Answer Sample standard deviation of income is Answer 90% confidence interval for the population mean income (hint: assume that income distributed normally with mean μ and variance σ2) is [Answer±Answer*Answer] 90% confidence interval for the population variance of income (hint: assume that income distributed normally with mean μ and variance σ2) is…

Total plasma volume is important in determining the required plasma component in blood replacement therapy for a person undergoing surgery. Plasma volume is influenced by the overall health and physical activity of an individual. Suppose that a random sample of 44 male firefighters are tested and that they have a plasma volume sample mean of x = 37.5 ml/kg (milliliters plasma per kilogram body weight). Assume that ? = 7.20 ml/kg for the distribution of blood plasma. (a) Find a 99% confidence interval for the population mean blood plasma volume in male firefighters. What is the margin of error? (Round your answers to two decimal places.)lower limit= upper limit= margin of error= (b) What conditions are necessary for your calculations? (Select all that apply.) the distribution of volumes is normal ? is known the distribution of volumes is uniform n is large ? is unknown c) Find the sample size necessary for a 99% confidence level with maximal margin of error E = 2.80 for the mean plasma…

Total plasma volume is important in determining the required plasma component in blood replacement therapy for a person undergoing surgery. Plasma volume is influenced by the overall health and physical activity of an individual. Suppose that a random sample of 42 male firefighters are tested and that they have a plasma volume sample mean of x = 37.5 ml/kg (milliliters plasma per kilogram body weight). Assume that ? = 7.20 ml/kg for the distribution of blood plasma. (a)Find a 99% confidence interval for the population mean blood plasma volume in male firefighters. What is the margin of error? (Round your answers to two decimal places.) lower limit ___ upper limit ___ margin of error ___ (b)What conditions are necessary for your calculations? (Select all that apply.) A-? is known B-n is large C-the distribution of volumes is uniform D-the distribution of volumes is normal E-? is unknown Find the sample size necessary for a 99% confidence level with maximal margin of error E =…

Total plasma volume is important in determining the required plasma component in blood replacement therapy for a person undergoing surgery. Plasma volume is influenced by the overall health and physical activity of an individual. Suppose that a random sample of 48 male firefighters are tested and that they have a plasma volume sample mean of x = 37.5 ml/kg (milliliters plasma per kilogram body weight). Assume that ? = 7.00 ml/kg for the distribution of blood plasma.   (a) Find a 99% confidence interval for the population mean blood plasma volume in male firefighters. What is the margin of error? (Round your answers to two decimal places.)   lower limit =______ upper limit =______ margin of error = _______     (b) What conditions are necessary for your calculations? (Select all that apply.) the distribution of volumes is normal the distribution of volumes is uniform ? is known ? is unknown n is large   (d) Find the sample size necessary for a 99% confidence level with maximal…