EBK BUSINESS STATISTICS
EBK BUSINESS STATISTICS
7th Edition
ISBN: 9780134462783
Author: STEPHAN
Publisher: PEARSON CUSTOM PUB.(CONSIGNMENT)
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You want to estimate the impact of the death penalty as a deterrent for committing murder. You have data on the murder rate from all 50 states and Washington DC, as well as the total executions in the past 3 years. You also have information on the unemployment rate for each state. You estimate the following model: mrdrte = Bo + B₁ * exec + ß₂ * unemp+u where mrdrte: murder rate exec: total executations in past 3 years unemp: unemployment rate Question 2 Based on the scatterplot below, it appears there is at least one candidate outlier in terms of total executions, and perhaps one with a very high murder rate as well. 30 40 80 murders per 100,000 people 40 20 09 KY: 10 0 O True O False O 20 total executions, past 3 years
Differentiate phenomenological from mechanistic modeling.
Discuss the importance of a model being well documented.
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