You estimated the following relationship between the annual salary (S) and the length of employment in the retail sector (LEmp), using a large sample. Salary is measured in dollars and Length of employment in years. The results are as follows: Ŝ; = 23, 005 + 1, 534.4LEmpi i (6,450.8) (524.5) where the appropriate standard errors of the estimators are given in parentheses. The 99% confidence interval for the slope is approximately: O [183.4, 2885.4] [1009.9, 2058.9] O [506.4, 2562.4] O [671.7, 2397.1]

You estimated the following relationship between the annual salary (S) and the length of employment in the retail sector (LEmp), using a large sample. Salary is measured in dollars and Length of employment in years. The results are as follows: Ŝ; = 23, 005 + 1, 534.4LEmpi i (6,450.8) (524.5) where the appropriate standard errors of the estimators are given in parentheses. The 99% confidence interval for the slope is approximately: O [183.4, 2885.4] [1009.9, 2058.9] O [506.4, 2562.4] O [671.7, 2397.1]

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

8.1.2 If X = 148, o = 27, and n = 30, construct a 99% confidence interval estimate of the population mean, u. (Round to two decimal places as needed.)
In automobile mileage and gasoline-consumption testing, 13 automobiles were road tested for 300 miles in both city and highway driving conditions. The following data were recorded for miles-per-gallon performance. City: 16.6 17.1 16.3 14.8 13.6 15.7 17.2 16.4 16.5 15.7 15.6 15.7 16.6 Highway: 20.0 21.2 18.9 19.2 19.8 18.0 17.8 19.2 19.6 21.7 20.0 19.1 19.3 Calculate the mean, median, and mode for City and Highway gasoline consumption (to 1 decimal). Highway Mean City Median Mode The data are bimodal: Make a statement about the difference in gasoline consumption between both driving conditions. The mean, median, and modal mileages are all better on the highway than in the city. and
Is it true or false that the least absolute deviations (LAD) estimator minimizes the sum of the absolute value of the population errors.
Sir Francis Galton, a cousin of James Darwin, examined the relationship between the height of children and their parents towards the end of the 19th century. It is from this study that the name "regression" originated. You decide to update his findings by collecting data from 110 college students, and estimate the following relationship: Studen th = 19.6 + 0.73 × Midparh, R2 = 0.45, SER = 2.0 (7.2) (0.10) where Studenth is the height of students in inches, and Midparh is the average of the parental heights. Values in parentheses are heteroskedasticity robust standard errors. Interpret the estimated slope coefficient and intercept coefficient. What is the meaning of the regression R2 ? What is the prediction for the height of a child whose parents have an average height of 70.06 inches? a. b. с. d. What is the interpretation of the SER here? Is the slope coefficient statistically significantly different from zero (at the 5% significance level)? e.
Note: If your answer does not exactly match the correct choice, it is due to rounding of intermediate calculations. To avoid the discrepancy, do your calculations in Excel without rounding. A life insurance company wishes to examine the relationship between the amount of life insurance held by a family and family income. From a random sample of households, the company collected the accompanying data. The data are in units of thousands of dollars. INSUR INCOME 97 38 141 29 y = X = Let INSUR 280 75 %3D INCOME 303 81 453 137 357 77 199 43 251 53 807 184 147 45 272 70 537 128 527 117 245 55 483 116 673 204 194 46 154 51 163 48 2 The denominator of the slope coefficient formula for the estimated regression equation is: 108,450.87 280 69 a 507 140 b 105,805.73 464 136 103,225.10 321 71 d 100,707.41 873 206 476 144 574 111 251 65 497 130 826 171 133 32 259 82 281 73 446 146 332 77 219 48 208 55 180 48 169 42 273 69 502 127 547 126 281 80 428 143 370 77 221 49 214 51
T or F A household is frequently used in analyses because more consistent data are usually collected at that level.
determine the regression line equation plot the line on a graph and summarize the results( reject or do not) is there enough evidence?
You use a dataset with 538 observations to run a simple linear regression. You find that the coefficient estimate is 3.258 and that the standard error of the coefficient estimate is 1.794. What is the lower end of the 98% confidence interval (of a two- sided test)? (you need to write a number that is rounded to the fourth digit after the decimal).
the unemployment rate for 18- to 34-year-olds was reported to be 10.8% (the Cincinnati Enquirer, november 6, 2012). assume that this report was based on a random sample of four hundred 18- to 34-year-olds. a. a political campaign manager wants to know if the sample results can be used to conclude that the unemployment rate for 18- to 34-years-olds is significantly higher than the unemployment rate for all adults. according to the bureau of labor Statistics, the unemployment rate for all adults was 7.9%. develop a hypothesis test that can be used to see if the conclusion that the unemployment rate is higher for 18- to 34-year-olds can be supported.b. use the sample data collected for the 18- to 34-year-olds to compute the p-value for the hypothesis test in part (a). using a 5 .05, what is your conclusion?c. explain to the campaign manager what can be said about the observed level of significance for the hypothesis testing results using the p-value
The OLS estimation of the relationship between GRADE and HOURS of studying gives the following fitted equation (standard errors in parentheses): GRADEA = 38.15+0.048*HOURS (6.85) (0.01) Calculate the corresponding t statistic to test the slope coefficient for significance (Use two decimal places without rounding)
The microstructure of an iron carbon alloy consists of proeutectoid ferrite and pearlite; the mass fractions of these microconstituents are 0.22 and 0.78, respectively. Determine the concentration of carbon in this alloy.
A researcher investigating whether government expenditure crowds out investment estimates a regression on data for 30 countries. I-investment; G-government recurrent expenditure; Y=gross domestic product; all measured in $US billion. P= population measured in million. Standard errors are in parentheses. Î= 18.10 (7.79) R² = 0.99 1.07G + 36Y (0.14) (0.02) She suspects that countries with higher GDP may have more variability in their investment. She sorts the observations by increasing size of gdp per capita (Y)and estimates the regression again for the 11 countries with the lowest gdp(Y)and the 11 countries with the largest gdp(Y). The RSS1 from the first regression is 7186. The RSS2 from the second regresison is 28101. Perform a Goldfeld-Quandt Test at a 5% significance level. a. The test statistic for this test is 0.256 b. The critical value defining the rejection region for Ho is 3.18 c. Is there heterscedasticity? Yes=1 or No-0. The answer is 0