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1. Consider the simple linear regression model without an intercept, y = ß1x + u, with the assumption E(u|x)=0. Also assume that E(x)=0
a. Show that E(y)=0 and using this as well as E(x)=0 show that the covariance between x and y is given by E(xy) and that the variance of x is given by E(x2 )
b. Using the results in a. and the assumptions above show that E(xu)=0 and hence that ß1 = E(xy) / E(x2 )
c. What is the Least Squares estimate of ß1 (say ß~ ) in this model without an 1 intercept? How does it relate to the population value ß1 ? Do they have to be the same - Why? Why not?
You are attending the yearly shareholder's meeting of PIC firm. A fellow stockholder points out that manager of PIC received $100,000 last year, while the manager of a rival company, CUP Enterprises, earned only $50,000.
The price at point a is $70 and the price at point c is $10 per bag. The price at point d is $56 and the price at point e is $31 per bag. The price at point f is $67 and the price at point g is $32 per bag.
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Jeff owns a garage and has 3 mechanics to help him. With the tools used being fixed in the short run, his production function is given by 5 + 2L = Y , where L is the number of mechanics and Y is the number of cars they can fix. If Jeff hires a fou..
Are there any predictable performance cycles for Wal-mart? If so, what are the periods over which its cycle waxes and wanes?
Computers are sold competitively. Each computer, such as a Dell or Compaq, contains an operating system, such as Windows, that is pre-loaded on the computer. Suppose that the price of computers is $2000, and the price of an operating system is $10..
The supply curve for product X is given by QXS = -340 + 10PX . a. Find the inverse supply curve. P = + Q b. How much surplus do producers receive when Qx = 350? When Qx = 1,000?
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