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The variables in our dataset include the college grade point average (colGPA), high school GPA (hsGPA), and achievement test score (ACT) for a sample of 141 students from a large university; both college and high school GPAs are on a four-point scale. We estimate the following model by OLS: colGPA = \beta, + \beta 2hsGPA+\beta 3ACT + u, and obtain the following parameter estimates \beta 1 = 0.3, \beta 2 = 0.38, and \beta 3 = 0.037. Predict the college GPA of a student with high school GPA of 3.5 and ACT score of 30.

The variables in our dataset include the college grade point average (colGPA), high school GPA (hsGPA), and achievement test score (ACT) for a sample of 141 students from a large university; both college and high school GPAs are on a four-point scale. We estimate the following model by OLS: colGPA = \beta, + \beta 2hsGPA+\beta 3ACT + u, and obtain the following parameter estimates \beta 1 = 0.3, \beta 2 = 0.38, and \beta 3 = 0.037. Predict the college GPA of a student with high school GPA of 3.5 and ACT score of 30.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The variables in our dataset include the college grade point average (colGPA), high school GPA (hsGPA), and achievement test score (ACT) for a sample of 141 students from a large university; both college and high school GPAs are on a four-point scale. We estimate the following model by OLS: colGPA = \beta, + \beta 2hsGPA+\beta 3ACT + u, and obtain the following parameter estimates \beta 1 = 0.3, \beta 2 = 0.38, and \beta 3 = 0.037. Predict the college GPA of a student with high school GPA of 3.5 and ACT score of 30.
Transcribed Image Text:The variables in our dataset include the college grade point average (colGPA), high school GPA (hsGPA), and achievement test score (ACT) for a sample of 141 students from a large university; both college and high school GPAs are on a four-point scale. We estimate the following model by OLS: colGPA = \beta, + \beta 2hsGPA+\beta 3ACT + u, and obtain the following parameter estimates \beta 1 = 0.3, \beta 2 = 0.38, and \beta 3 = 0.037. Predict the college GPA of a student with high school GPA of 3.5 and ACT score of 30.
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