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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).

A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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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^.
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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