Air pollution control specialists

Assignment Help Business Economics
Reference no: EM131001267

Air pollution control specialists in southern California monitor the amount of ozone, carbon  dioxide, and nitrogen dioxide in the air on an hourly basis. The hourly time series data exhibit seasonality, with the levels of pollutants showing patterns that vary over the hours in the day. On July 15, 16, and 17, the following levels of nitrogen dioxide were observed for the 12 hours from 6:00 A.M. to 6:00 P.M.

July15: 25 28 35 50 60 60 40 35 30 25 25 20

            July16: 28 30 35 48 60 65 50 40 35 25 20

July17: 35 42 45 70 72 75 60 45 40 25 25 25

a.       Construct a time series plot. What type of pattern exists in the data?

b.      Use a multiple linear regression model with dummy variables as follows to develop

an equation to account for seasonal effects in the data:

Hour 1 = 1 if the reading was made between 6:00 A.M. and 7:00 A.M.; 0 otherwise

Hour 2 = 1 if the reading was made between 7:00 A.M. and 8:00 A.M.; 0 otherwise.

Hour11 = 1 if the reading was made between 4:00 P.M. and 5:00 P.M.; 0 otherwise

Note that when the values of the 11 dummy variables are equal to 0, the observation

corresponds to the 5:00 P.M. to 6:00 P.M. hour.

c.       Using the equation developed in part (b), compute estimates of the levels of

Nitrogen dioxide for July 18.

d.      Let t = 1 to refer to the observation in hour 1 on July 15; t = 2 to refer to the

observation in hour 2 of July 15...... and t = 36 to refer to the observation in hour 12 of July 17. Using the dummy variables defined in part (b) and t, developing an equation to account for seasonal effects and any linear trend in the time series. Based upon the seasonal effects in the data and linear trend, compute estimates of the levels of nitrogen dioxide for July 18. 

 

 

Reference no: EM131001267

Questions Cloud

Firm rents a supply management system to hospitals : Your firm rents a supply management system to hospitals. You have received a buyout offer of $5 million. You forecast a 25 percent chance that you will have profits of $10 million, a 35 percent chance that you will have profits of $6 million, and a 4..
Prepare any necessary adjusting journal entries indicated : Prepare a bank reconciliation for the El Gato checking account at December 31, 2011.
Complete insurance coverage : There is a 1 percent chance that you will have healthcare bills of $100,000, a 19 percent chance that you will have healthcare bills of $10,000, a 60 percent chance that you will have healthcare bills of $500, and a 20 percent chance that you will ha..
What was dollar increase in costs above inflation rate cost : An article in the Chicago Tribune stated that in 2007, college costs rose faster than inflation and student aid. A report by the College Board found that average in-state tuition and fees at four-year public universities rose 6.6% to $6,185. What wou..
Air pollution control specialists : Air pollution control specialists in southern California monitor the amount of ozone, carbon dioxide, and nitrogen dioxide in the air on an hourly basis. The hourly time series data exhibit seasonality, with the levels of pollutants showing patterns ..
Represent her preferences with the utility function : Latanya likes to talk on the telephone. We can represent her preferences with the utility function U(B, J) = 18B + 20J, where B and J are minutes of conversation per month with Bill and Jackie, respectively. If Latanya plans to use the phone for one ..
Redraw two budget lines-substitution and income effects : Hillary spends all her income on milk and cookies. Graph Hillary's budget line when income = $20, Pcookies= $1 & Pmilk= $2. Pick some point in the middle as her optimal choice and draw in the appropriate indifference curve. Redraw the two budget line..
Discuss the ethical considerations in this line of research : Discuss the advantages and limitations of replication in the tobacco industry's use of research. Discuss the ethical considerations in this line of research
Evaluates consumption streams : Consider a two-period economy with a single commodity (say leisure): x_1 is the consumption of leisure in period 1, and x_2 is the consumption of leisure in period 2. When Peter evaluates consumption streams, he cares only about the best time in his ..

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

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

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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