What is Heteroskedasticity? Is it a limitation of the Pearson model?
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5. What is Heteroskedasticity? Is it a limitation of the Pearson model?
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- Define what an endogenous variable is, describe three scenarios that may cause a problem of endogeneity, and what are minimal assumptions needed for a good instrument. Tobit models are used to model censored and corner solution data. Explain what the difference between these two types of data is, and how does it affect the interpretation of Tobit models? What is the difference between a logit and a probit model, and why would are they preferred over a linear probability model (LPM) Explain what it means for a variable to possess a unit root. What are the implications for regression analysis if one uses variables with Unit roots? Explain what serial correlation is, how do you test for it, and why it invalidates the standard calculation of standard errors in time series data. Describe what does it mean to have a spurious regression, why could it happen, and what are the consequences in terms of t-statistics and goodness of fit measures?150 30 0 www ii) 14 i) 21 ii) 28 days 35 42 (a) The Figure above shows simulated data on the number of people (in thousands) who use public transport every day in Melbourne. i) 49 56 Does this time series exhibit a time trend? If there is a time trend, explain what could explain this trend. (b) Consider the following estimated model of industrial production (Y), which uses quarterly data from 2001q1 to 2022q4 and includes a constant, a time trend (t) and 3 seasonal dummy variables (Q1, Q2, and Q3) in the equation. Does this time series exhibit seasonality? What statistical test could you perform to test whether there is seasonality? If there is seasonality, explain what could explain this seasonal pattern. log(Y) = 6.01 +0.05t -0.0201 -0.03Q2 -0.0103 Interpret the estimated coefficients for the time trend and three seasonal dummies. Based on the estimated equation above, what would be the forecast for industrial production for the first quarter of 2024?3. A certain actuarial model of mortality rate is fitted to some given data. Table 2 below reports the Z-score statistic of the model graduation. (a) List the key steps involved in developing an actuarial model. (b) Explain why we need graduation. What do we actually test statistically? (c) What are the drawbacks of a x²- test? Explain how the sign test may overcome these. (d) Write a statistical hypothesis to test the adherence of the model to the data. (e) The life table data below provides an estimate of mortality rates obtained from a three-parameter Poisson model. Give the quality of goodness-of-fit of the Poisson model by performing statistical tests based on:, and draw the conclusions. i. x²-test. ii. Standardized deviations test. [Consider the following subintervals for the data range: A₁ = (-∞, −3], A₂ = (−3,−2], A3 = (−2, −1], A4 = (–1, 0], A5 = (0, 1], A6 = (1, 2], A7 = (2, 3], and Ag = (3, ∞).] iii. Sign test iv. Change-of-sign test v. Grouping-of-sign test vi. Lag-2 serial…
- Question The relationship between United States unemployment and inflation rates during the Covid-19 pandemic. Background The covid-19 pandemic has led to higher unemployment rates in the United States than normal because many people were laid off jobs in response to the pandemic (Al-Fadly, 2020). It is important to analyze how such as sharp increase in unemployment affected inflation in relation to how unemployment have traditionally affected inflation. The overall relationship between unemployment and inflation has traditionally been an inverse one. It is argued that when unemployment rates are higher, the number of individuals who are looking for jobs usually becomes higher than the number of job positions that are available (Putnam & Azzarello, 2015). In such a situation, employers tend to pay lower wages because there is abundance of workers which naturally leads to a lower wage inflation. This study will examine the relationship between unemployment rates and inflation…3. A social worker is interested in examining how people who have higher levels of psychological resiliency respond after a natural disaster. She obtained anxiety scores, which were measured on a scale of 1-12 with higher numbers meaning more anxiety, from eight individuals who had experienced a natural disaster. She collected these scores 3 weeks after the disaster (M=8.63) and 6 months after the disaster (M=4.38). She expected that the anxiety scores at 6 months would be much lower than at 3 weeks. If sD = 1.16 and you use a two-tailed test with an alpha of .05, is there a difference? Perform the 4 steps of hypothesis testing. %3D Anxiety at 3 Anxiety at 6 weeks 12 months 7 4 10 11 8. 5 6146 NI5 797 50A consulting group recently conducted a global survey of product teams with the goal of better understanding the dynamics of product team performance and uncovering the practices that make these teams successful. One of the survey findings was that 32% of organizations have a coherent business strategy that they stick to and effectively communicate. Suppose another study is conducted to check the validity of this result, with the goal of proving that the percentage is less than 32%. Complete parts (a) and (b) below. a. State the null and research hypotheses. Identify the null and alternative hypotheses. O A. Ho: as0.32; H,: a>0.32 O B. Ho: 120.32; H: <0.32 OC. Hoi a#0.32; H: =0.32 O D. Ho: 1=0.32; H4: n#0.32 b. A sample of 200 organizations is selected, and results indicate that 58 organizations have a coherent business strategy that they stick to and effectively communicate. Use the p-value approach to determine at the 0.05 level of significance whether there is evidence that the…
- The owner of a small deli is trying to decide whether to discontinue selling magazines. He suspects that only 8.7% of his customers buy a magazine and he thinks that he might be able to use the display space to sell something more profitable. Before making a final decision, he decides that for one day he will keep track of the number of customers that buy a magazine. (b) Assuming his suspicion that 8.7% of his customers buy a magazine is correct, what is the probability that exactly 3 out of the first 14 customers buy a magazine? Give your answer as a decimal number rounded to two digits.2. A cohort study is conducted to assess the association between clinical characteristics and the risk of stroke. The study involves n = 1370 participants who are free of stroke at the study start. Each participant is assessed at study start (baseline) and every year thereafter for 5 years. The following data were collected relating hypertensive status measured at baseline to incident stroke over 5 years. Free of Stroke at 5 years Stroke Baseline: Not hypertensive 1000 50 Baseline: Hypertensive 300 50 Compute the cumulative incidence of stroke in patients classified as hypertensive at baseline.A)0.20B)0.50C)0.0625D)0.05course name : stochastic models
- NEED NEED ANSWER ASAP !!!3) The following two sets of Excel output use are from the same data set as described above, but the first set of output is for the set of 35 CEO’s that earn the lowest total compensation and the second set of output is for a set of 40 CEO’s that earn the highest total compensation. a) What is heteroscedasticity? b) Why is heteroscedasticity a problem? c) Based on a comparison of the two sets of output, does it appear that there is heteroscedasticity in the data set? Explain.Again recall Table 8a from the working paper "The Market for Financial Advisor Misconduct" discussed in Lecture 7 and HW 7. For your convenience, the table is reproduced below. Table 8a. Consequences of Misconduct: Industry and Firm Discipline No Misconduct Misconduct Remain with the Firm 81.29% 51.99% Leave the Firm 18.71% 48.01% Leave the Industry 8.92% 26.96% Join a Different Firm (within 1 year) 21.05% 9.79% Note: Table 8a displays the average annual job turnover among financial advisers over the period 2005-2015. The table shows, on average, the percentage of advisers that remain with their firm, leave the industry (for at least one year) or join a new firm (within a year). The job transitions are broken down by whether or not the advisor was disciplined for misconduct in the previous year. Consider randomly selecting five financial advisors who were disciplined for misconduct in the previous year. What is the chance that at least one of them leaves the firm? (Answer as a…
