Estimate the relationship between candy and pounds using ols

Assignment Help Econometrics
Reference no: EM131135148

1. Consider the following (familiar) equation which estimates the number of hours of sleep per year that someone gets as a function of hours worked per year (totwork), education (in years) and age. Suppose this equation is estimated using a new data set of 64 people and the results are

Sleep = 3434.8 - .118 totwork - 12.05 education +2.35 age

            (115.71)  (.025)             (3.25)         (1.01)

n = 64 R2 = 0.185

a. Test the null hypothesis that the coefficient on education is equal to 6 at the 596 level.

b. Dropping age and education from the equation yields the following estimate:

Sleep = 3288.0 - .127 totwork

           (47.21)    (.028)

n = 64 R2 = 0.141

Are education and age jointly significant at the 5% level? Justify your answer.

2. Consider the following relationship between number of pieces of candy eaten per day and pounds gained per month:

Person

Candy

Pounds

1

3

6

2

5

7

3

1

2

4

8

10

5

3

5

a. Estimate the relationship between candy and pounds using OLS. That is obtain the intercept and slope intercepts in the equation:

Pounds = β01Candy

b. What is the predicted number of pounds gained per month if someone eats 2 pieces of candy per day?

c. How much of the variation in pounds gained is explained by pieces of candy eaten? In other words: What is R2 for this regression?

Reference no: EM131135148

Questions Cloud

Are the implications of the results still current today : Briefly, Summarize the Kansas City Preventive Patrol Experiment. Are the implications of the results still current today? Should they be relied on to make patrol allocation and distribution decisions in modern cities and communities? Why or why ..
How much of your personal feelings should you share : How should you approach your team - How much of your personal feelings should you share and What are some key actions you should take?
Review tasks required for implementation of a hazco program : Review the five tasks required for implementation of a HazCom program. If your current organization, or one with which you are familiar, was just starting to implement a HazCom program.
Compare and contrast newly revised ghs-based requirements : Compare and contrast the newly revised GHS-based requirements for information on Safety Data Sheets (SDS) in 29 CFR 1910.1200 with the previous HazCom Standard requirements.
Estimate the relationship between candy and pounds using ols : Estimate the relationship between candy and pounds using OLS. That is obtain the intercept and slope intercepts in the equation: Pounds = β0 +β1Candy
The risk management process in context to a manufacturing : Write a Term paper on the topic "the risk management process in context to a manufacturing firm".The term paper should include the introduction, body and conclusion.
How important are witnesses with regard to the prosecution : How does the role of witnesses used for the prosecution differ from that of witnesses used for the defense? Explain. What qualifications do you think should be necessary for a witness to be considered an expert? Explain.
What happened to the level of consumer sentiment : Now find every year where the growth in disposable income per person is negative. Does the index of consumer sentiment rise or fall in that quarter?
What categories of chemicals are exempt from oshas hazcom : What categories of chemicals are exempt from OSHA's HazCom labeling requirements? Your response must be at least 150 words in length. You are required to use at least your textbook as source material for your response.

Reviews

Write a Review

Econometrics Questions & Answers

  Design a simple econometric research project

Design a simple econometric research project

  Multiplicative decomposition method

Multiplicative decomposition method

  Market for cigarettes

The Australian government administers two programs that affect the market for cigarettes.

  Solve the forecast model

Solve the forecast model

  What are the marginal abatement cost functions

What are the marginal abatement cost functions for each of the two areas? Calculate the loss in the two areas due to over-control (for the rural area) and under-control (for the urban area).

  Write the t statistic for testing the null hypothesis

Explain why this model violates the assumption of no perfect collinearity.  Write the t statistic for testing the null hypothesis

  What is economics system

What is economics system? What are the types of economics system? Briefly explain each type of economics system by giving examples of nations that are close to each type

  Multiple choice questions related to market concentration

Determine when a competitively produced product generates negative externalities in production, the industry will,

  Calculating number of units produced by firm

Assume a company has the following production function: Q = 100 K.5 L1 . Currently, the company hires 1,000 workers and employs 100 units of capital.

  Question about mobile commerce

M-commerce also known as mobile commerce is being lumped in with several strategic internet plans. Explain some of the industries that are likely to use mobile commerce and how it is working for them.

  Calculating the average days past due and average flow time

Auto Data manufactures custom engineering testing machine. The following 5-orders are currently in the design department:

  Mechanism of an english auction and second price auction

Briefly discuss the difference between mechanism of an oral or English auction and a Vickrey or second price auction.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd