We run the following regression, log(Y) = B0 + B1X + B2T + u, and we found B^1 = -0.89. Suppose that for some value of the variable T, and X = 0.78, the predicte value of the dependent variable is Y^ = 1.18. Suppose now that X chang to 1.28 (but T does not change).
We run the following regression, log(Y) = B0 + B1X + B2T + u, and we found B^1 = -0.89. Suppose that for some value of the variable T, and X = 0.78, the predicte value of the dependent variable is Y^ = 1.18. Suppose now that X chang to 1.28 (but T does not change).
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Pls help with below homework.
![We run the following regression,
log(Y) = B0 + B1X + B2T + u,
and we found B^1 = -0.89.
Suppose that for some value of the variable T, and X = 0.78, the predicted
value of the dependent variable is Y^ = 1.18. Suppose now that X changes
to 1.28 (but T does not change).
Calculate the new predicted value Y^.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F56b8c67a-bcab-42db-8221-ed2b7930ce3a%2F93a9d035-60f5-4e20-ae0d-0619f0f4667d%2Fja1ksfb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:We run the following regression,
log(Y) = B0 + B1X + B2T + u,
and we found B^1 = -0.89.
Suppose that for some value of the variable T, and X = 0.78, the predicted
value of the dependent variable is Y^ = 1.18. Suppose now that X changes
to 1.28 (but T does not change).
Calculate the new predicted value Y^.
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