Differentiate between linear and log-linear model, Econometrics

Assignment Help:

Problem:

(a) Differentiate between linear and log-linear model.

(b) Distinguish between type I and type II errors.

(c) (i) A bulb manufacturer claims that its bulbs last 36000 hours, on average. A consumer believes that it is actually less and plans to test this by assessing the lifetime of bulbs on a sample of 35 bulbs and tests these assumptions at significance level of 0.05. If the standard deviation of bulb life is 4000 hours, what is the probability of a type II error if the actual mean lifetime of the bulb is 33000 hours?

(ii) Given that the significance level is 0.005, what is the probability of a type II error if the actual mean lifetime of the bulb is 32500 hours?


Related Discussions:- Differentiate between linear and log-linear model

Firm''s marginal revenue function, A firm has the following inverse demand ...

A firm has the following inverse demand function:       where Q  is Quantity and P  is Price   (a) Find the firm's marginal revenue function. (b) Find the level of out

Labor economics, Ask question #Minimum unions tie the hand of management an...

Ask question #Minimum unions tie the hand of management and inhibit efficient decision making100 words accepted#

Quantitative Analysis, How Has Quantitative Analysis Changed The Current Sc...

How Has Quantitative Analysis Changed The Current Scenario In The Management World Today?

Auxiliary regression, Why use auxiliary regression? What are the benefits o...

Why use auxiliary regression? What are the benefits of using it?

Determine partial derivatives of the demand function, Problem 1. Consider t...

Problem 1. Consider the demand function Q(p 1 , p 2 , y) = p 1 -2 p 2 y 3 , where Q is the demand for good 1, p 1 is the price of good 1, p 2 is the price of good 2 and y is t

Machine breakdowns, A bottling company has determined the number of machine...

A bottling company has determined the number of machine breakdowns per month and their respective probabilities as given below:     Number of     Breakdowns        Probability

The Myth of Public Goods by Mark Davis (2010); the J, Ask questia) Summariz...

Ask questia) Summarize the basic tenets of the arguments in thiscase b) Do you agree with main tenets of the arguments in the case? Why? Justify your answer with detailed explanati

Write Your Message!

Captcha
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