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a) Explain what is calculated by a correlation coefficient.b) Why do economists commonly find regression a more useful tool than correlation?c) In a sample of 102 men the correlation among age and monthly donations to charity is found to be 0.2.Test whether this correlation is significantly among from zero and comment on your result.
Assume that Jane spends her entire income of $100 on two goods, x and y. Moreover, these goods are perfect complements for her. Let the price of good x go up while the price
The following multiple regression results are part of a study of the demand for chicken in the USA. Q Calculates the quantity of chicken purchased per annum. PC and PB are the pric
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Let W be a random variable such that Supp (W) = {2, -1, 0, 1, 2 } and What is p? Define U = W 2 . What is Supp (U) and fU (u) = Pr [U = u] for u ∈ Supp (U)? Compute E [W] a
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