Solution-Describe the consequences of underfitting a model

Describe the consequences of underfitting a model

Reference no: EM131395843

Applied Economic Analysis

1. Use the grade data for the following:

Grade = final grade in an intermediate microeconomics course, which takes the value of 1 if the grade is A and 0 if it is not A

GPA = Grade point average

TUCE = Score given on the Test of Understanding in Economics

PSI = Personalized System of Instruction

The exercise is to determine the factors that affect the probability of receiving an A in the intermediate micro course.

Fit the logit model to these data and interpret your results. How do we determine the probability that a student receives an A in his/her microeconomics course if he/she has the following: GAP = 3.92, TUCE = 29, and PSI = 0?

2. Describe the consequences of (i) underfitting a model and (ii) overfitting a model.

3. Interpret the meaning of the coefficients in the following regressions:

Y_i = β₁ + β₂X_i + u_i

ln Y_i = β₁ + β₂lnX_i + u_i

ln Y_t = β₁ + β₂lnX_i + u_i

Can we compare R2 for the first two regressions?Part II: Part II is comprised of a report-type research paper on an economic topic chosen by you. You may work in a team of two. The report comprises a detailed description of the question/issue examined, motivation for the question/issue examined, and relevant descriptive statistics. The report should be between 5 - 10 pages.

Part III: Part III is a continuation of Part II and undertakes theoretical and empirical analyses of the economic topic chosen in Part II. The findings are presented to the class. Part III consists of: (i) the theoretical and empirical model, (ii) data sources and methodology, and (iii) the empirical results and conclusion. The final paper is to be 15-25 double-spaced typed pages. Presentations are 15 minutes with a question/discussion period. All students are required to attend and participate in the presentations by asking good questions and offering good insights.

DOING RESEARCH IN ECONOMICS

I. STEPS IN PREPARING YOUR RESEARCH PROJECT

A research project typically can take one of two forms: (i) an analysis of a research question or (ii) a descriptive analysis of a specific issue. The former is more of an "academic type" format and the latter is more of a "report type" format. You will do both on the same topic in parts II and III.

(i) SELECTING A TOPIC/QUESTION

Choose a topic in Economics that is interesting to you and that would be interesting to outside readers. This provides part of the motivation for your project. Then begin reading about it in the literature and gathering information on the topic. It is recommended that you begin with the most recent literature and work your way backwards. The most recent literature often provides references and information about past research. The literature will give you ideas about what has already been done and what remains to be done in this area.

To learn about the academic literature, you can use databases such as ECONLIT or SSCI, or you can use a web search such as Google or Google Scholar.

Data sources available at Bishop's will be provided in class. Note that other data sources are available online.

One key advice is to keep the topic simple and specific. Another key advice is to begin your project early. You will likely find that gathering data can sometimes be very difficult and very time consuming. The research question/topic must be feasible given your time constraints and the availability of data.

(ii) DEVELOP A HYPOTHESIS

An "academic type" paper involves a research question. Your hypothesis is the proposed answer to this question. Your hypothesis must be grounded in theory; that is, it must be clear why you propose this answer to the research question.

(iii) TEST YOUR HYPOTHESIS

Following from (ii), to test your hypothesis, you have to gather relevant data and employ econometric techniques that you have learned in EMA 261. Here you are comparing your statistical results to your hypothesis. Are your results consistent with the predictions from theory? Be sure to check for problems with econometric testing such as heteroscedasticity or autocorrelation.

(iv) DEVELOP A SPECIFIC OBJECTIVE

A "report type" paper needs to be specific about its objective.

(v) ANALYSIS OF THE TOPIC

Following from (iv) for a "report type" project, you have to gather relevant data and information about your topic. Analysis of the data employs statistical and econometric techniques. Here, your analysis is mostly descriptive and may entail predictions/trends.

II. WRITING YOUR PAPER

A research paper must be well-organized and well-written. To be well-written, a paper needs editing and revising (i.e. it cannot be written at the last minute). The paper must have structure and include most or all of the following:

(i) Introduction:

The introduction states clearly the research question or objective, hypothesis, and its motivation. It is very important to motivate your research question or objective. Motivating the question/objective entails describing to the reader why it is an important one and sparks their interest in reading your paper.

(ii) Descriptive statistics

Here, you provide descriptive statistics about the variables of interest showing trends, etc.

(iii) Literature Survey

The literature survey reviews the theoretical and empirical literature of your topic. You don't need to go into a lot of detail about each paper, but it should be clear to the reader what the literature has already examined.

(iv) Theoretical Analysis (for an "academic type" project)

Here, the theory behind your hypothesis is presented.

(v) Empirical Analysis

This section is comprised of (a) a description of your data, including the source, sample period, descriptive statistics, etc, (b) the econometric model, if any, you are employing, and (c) the econometric testing of your hypothesis, if any. A "report type" project is confined to (a).

Note that for (b), the econometric model is based on theory. The connection between the econometric model and the theory should be clear to the reader. The discussion of the model used must relate the explanatory and dependent variables to the theory. Part (c) also involves an interpretation of your results.

(vi) Conclusion

The conclusion summarizes your analysis. Your conclusion can also provide policy implications if relevant, and any limitations of your analysis.

Part 2 7 Pages 2100 Words
Part 3 18 Pages 5400Words
500 Words in 8 PPTS

Verified Expert

The solution contains total three deliverable, Part 2, which is the introduction to the report, the PPT which contains a concise version of part 2 as well as what needs to be done in part 3 The third part is known as Part 3 which contains the actual report regarding the statement under consideration. The subsequent parts are 2000, 500 & 4500 words respectively. In order to perform the assignment the analysis has been done through the tool SPSS. The solution has been done by using Harvard referencing system.

Reference no: EM131395843

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Reviews

inf1395843

3/30/2017 4:40:53 AM

You have saved me hours and hours of time, and without your administrations, I'd actually be flopping in more than one way! Much thanks to you such a great amount for what you have accomplished for me!!!

inf1395843

3/30/2017 4:39:39 AM

1. The Factors affecting the Child Poverty Minimization 2. What are the Proxy Variables to be used for the same 3. Hypothesis of the Report to be prepared (Null Hypothesis & Alternate Hypothesis) 4. Generic Equation Formulations (Equation Types - Regression along with notional Equations) 5. Data to be used 6. Tool to be used - SPSS (Mention this in PPT) 7. What Results to be presented that's will be good , I agree for it

inf1395843

3/30/2017 4:39:29 AM

Part 2 only asked for description & Descriptive Statistics which I have included. So advise me what to do next. What should I do about the PPT? I think the PPT needs to be delivered at the end of the Part 3 because as per the requirement of the whole assignment you need to give a presentation to the class. Waiting for your quick response on this assignment. Kindly update us asap. please again ask the tutor to modify the report as the professor request please show the numbers in the tables and that's very clear in the sample I provided in the beginning 2- add more graphs 3- if there is any number please provide the source of these numbers Thank you, that's nice of you, Please send my kindest regards to the tutor, please write your opinion what you will include on the PTT, so we can discuss the ppt together?

inf1395843

3/30/2017 4:38:00 AM

Equations comes only after the hypothesis testing is being done and that is in part 3. So part 3 will have equations as per the requirement and this part will only have descriptive statistics in the form of graphs. I will check with the prof and get back to you ,,,,, Now for the ppt : we will make Summarization of part II and show the influence of the factors in power point, with some questions and answers For part II it should has some tables with numbers .please update the research report with the numbers and tables First of all all the sources and all the information have been mentioned in the references. If you check the sources or the references page, I have included all the references from where the data has been collected. Second, this is a descriptive report, and this is not the final report. This is the part 2 report which is an introduction to the actual report which will be 4500 words and considered to be part 3 as per your nomenclature. In the final part 3 report there will be many charts, equations, figures and time tables which you are actually looking for.

inf1395843

3/30/2017 4:37:43 AM

I just received an email from the professor , he give us a sample that we have to follow in our research ,, please advise the tutor to write the search as the sample attached best regards 84169_1Student debt Part II.docx I am slightly tweaking the topic of the research from : Factors that helps to minimize the measures of child poverty I am changing it to : Factors that helps to minimize child poverty This will help in getting more data & to build robust research framework. Part two will be delivered on time, but what to include in the PPT. As per the Assignment the PPT is needed to be submitted after Part 3. Please let the tutor focus on part II now, the due date is after few hours! we will discuss the PPT later, the due date for the PPT is 1st, so we still have time the equations are ready along with the numbers, but as per the flow of the topic, this paper is only required to have only descriptive statistics.

inf1395843

3/10/2017 3:54:49 AM

But the tutor supposed delivered the part II before March 15, that's will give me enough time to review it and modify it, it's very important to let the tutor know that! Also, please find enclosed attachment part II from previous year, its different topic but it will show the tutor how the report should be 84169_1report361 -11.docx I just received an email from the professor , he give us a sample that we have to follow in our research ,, please advise the tutor to write the search as the sample attached 84169_1Student debt Part II.docx

inf1395843

3/10/2017 3:54:39 AM

Topic: Factors that helps to minimize the measures of child poverty Dependent Variable: Child poverty Rates Independent variable: Age, Sex, Race, GDP, Income status, etc it's reading week break, that's why I didn't get any confirmation from the professor yet the professor approved the topic: Factors that helps to minimize the measures of child poverty whoever will follow the professor requirements as attached, it will be fine with me, also, the tutor who come up with this topic name ( Factors that helps to minimize the measures of child poverty ) I think he will be more familiar with it but the most important for me is: someone follows the requirements of Regressions and write all the equations. Also, use the previous 3 assignments as reference. 84169_1reference equations from the last 3 assignments.docx. 84169_2Research paper details and requirements.doc.

inf1395843

3/10/2017 3:53:05 AM

I really cannot choose a topic for you. You should pick a topic in Economics that is of interest to both of you. Economics covers a wide variety of areas, so I am sure that there is something in Economics that would interest the both of you. If you want ideas about a topic, you can look at the titles of journal articles in general journals like Applied Economics, Journal of Economic Literature, American Economic Review etc. Or if you both are interested in a particular area of economics (e.g. trade, health, labour, etc), there are specific journals in these areas. Sorry I cannot be of more help, but part of the learning objective of the project is choosing your own research question and pursuing it. So please forward this email to the tutor and ask him to find only the topic name today without any introduction just we need the topic name today I sent request to the professor to approve this topic ( The Effect of Income on Religiousness ) I hope it will be approved, and in same time i hope if the tutor has a plan B or ready with different topic just in case if my choice didn't approve by the professor

inf1395843

3/10/2017 3:52:40 AM

I spoke with Sara about this, so I thought you would be informed about what I responded. I asked her to clarify the topic in that I am not sure how you will define your dependent variable "social welfare" and how you will define your key explanatory variable "economic development" and what is your theory about the cause and effect relationship. 84169_1Research paper details and requirements.doc 1- the attached file is all the requirements, its research on Applied Economic Analysis, and the tutors has to apply all the equations we used for the last 3 assignments in the research I will attach the last 3 assignment just for your reference 2- I have to provide the professor with the search topic name, dependent variable and key explanatory variable or small introduction of the topic by tomorrow morning ( 4 or 5 sentences ), Friday morning finally could you please provide me with the name of the research topic and small introduction(dependent variable and key explanatory variable) for the research topic today or tomorrow? then we will do the rest later? 84169_1Research paper details and requirements.doc 84169_2reference equations from the last 3 assignments.docx

inf1395843

3/10/2017 3:52:14 AM

3- the requirement for research is the topic name only, then you do your research and you bring and search for the data there is no data for the research topic, we only have the topic name, then we have to follow the attached steps to make the research papers on the subject we choice which is "Austerity: A threat to social welfare and economic development". Please please for last time read the research descriptions and details attached with this email Could you please find another tutor who is familiar with the research and know how to do research based on the attached steps ? 84169_1Research paper details and requirements.doc I received the below email from the prof asking me to clarify the topic name, and define the key explanatory variable that's why I want to change the Research topic subject I would like to find another topic and provide all the variable and keys to the prof today using the research step as attached? the prof has to prove the subject before to start the research, could you do that? and hire a professional tutor

inf1395843

3/10/2017 3:52:01 AM

this assignment is due this week, and I will send a 2nd email with a different attachment for the research topic 84169_1Applied Economic Analysis 2.docx 84169_2GPA.xlsx 84169_3notes 1.pdf I got it..part 2 and 3 and ppt belongs to austerity topic assignment. Please let me know if you are going to bring data for this austerity and social economic development or not so that i can work accordingly. Also please tell the deadline for Part II and Part III. 1- I would like to remind you that the 3 questions assignment due date is 22 which is tomorrow night, 2- there is no data for the Research topic, you have the name which is (( Austerity: A threat to social welfare and economic development)) and you make the research and find your own data

inf1395843

3/10/2017 3:51:37 AM

the topic will be the same: Austerity: A threat to social welfare and economic development please find attached the missing data for the assignment 84169_1GPA.xlsx 84169_2notes 1.pdf Furnish more info about part 2. Structure of part 2 report. Need details about data set provided by you. The Structure provided is for part 3..i think...because empirical analysis comes under part 3 not 2.. You have shared data set for economic subject grades but have the title "austerity a threat to economic development" this is my greatest doubt, Whether title for part 2 and 3 are different? I think there is misunderstanding here, I provide the data for the assignment (the 3 questions assignment), and the data has nothing to do with the research topic part 1 or 2 or even 3 at all I will separate the work for you now 1- the attached assignment # 2 and attached data

len1395843

2/16/2017 4:19:01 AM

Now its time to chose the research topic , I will attach the course out line and the research requirement the research topic is in 2 parts as the course requirement , please look at the attachment. I have choice one topic which is " Austerity: A threat to social welfare and economic development" Please don't forget to write all the regressions equations in part I + part II OR any other necessary equations . thats very very important

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Describe the consequences of underfitting a model

Reference no: EM131395843

Reference no: EM131395843

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