EBK STUDY GUIDE FOR MANKIW'S PRINCIPLES
7th Edition
ISBN: 8220103455312
Author: Mankiw
Publisher: Cengage Learning US
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Question
Chapter 11, Problem 4PA
Sub part (a):
To determine
The public good.
Sub part (b):
To determine
The public good.
Sub part (c):
To determine
The public good.
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Students have asked these similar questions
Suppose that (Y, X) satisfy the assumptions specified here. A random sample of n = 498 is drawn and yields
Ŷ= 6.47 + 5.66X, R2 = 0.83, SER = 5.3
(3.7)
(3.4)
Where the numbers in parentheses are the standard errors of the estimated coefficients B₁ = 6.47 and B₁ = 5.66 respectively.
Suppose you wanted to test that B₁ is zero at the 5% level. That is,
Ho: B₁ = 0 vs. H₁: B₁ #0
Report the t-statistic and p-value for this test.
Definition
The t-statistic is
(Round your response to two decimal places)
☑
The Least Squares Assumptions
Y=Bo+B₁X+u, i = 1,..., n, where
1. The error term u; has conditional mean zero given X;: E (u;|X;) = 0;
2. (Y;, X¡), i = 1,..., n, are independent and identically distributed (i.i.d.) draws from
i
their joint distribution; and
3. Large outliers are unlikely: X; and Y, have nonzero finite fourth moments.
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Tasks
Exercise 1
Assess the following functions:
1. f(x)= x2+6x+2
2.f '(x)=10x-2x2+5
a. Find the stationary points. (5 marks)
b. Determine whether the stationary point is a maximum or minimum. (5 marks)
c. Draw the corresponding curves (5 marks)
Chapter 11 Solutions
EBK STUDY GUIDE FOR MANKIW'S PRINCIPLES
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