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Consider the following simple linear regression model.
\(yi = \beta1 + \beta2xi + ei, i = 1,..., n\)
PART I: We are trying to find the ordinary least squares (OLS) estimators for 1 and 2 which we will denote as b1 and b2.
(a) Write down the function that you are minimizing.
(b) What are the OLS normal equations (1rst order conditions)?
(c) Derive OLS estimators, b1 and b2, from the normal equations.
Consider a consumer who is always willing to substitute three pounds of a generic store-brand sugar for two pounds of a brand-name sugar. Do these preferences exhibit a diminishing marginal rate of substitution between store-brand and producer-brand ..
You believe the yen will increase in value by 4% against the dollar in one year. If you think the spot exchange rate in one year will be 120 yen to the dollar, what must the spot rate be right now?
imply a lower standard of living in every of the three nations compared to the situation where they are united into a single new country.
Elucidate are the characteristics of the market for lemons.
Johnson Filtration, Inc. provides maintenance service for water-filtration systems. Data that follow show the repair time in hours, the months since last service, the repair type and the repair person for a sample of 10 maintenance service calls.
After 17 vehicular accidents two years ago in a given intersection, the mayor of Boulder proposed to reduce the number of crashes by making improvements at the intersection.
Government play in affecting the supply also demand of a key commodity such as gasoline or electricity?
As a production manager who understands the academic argument for free trade working in an company threatened by cheaper imports, how do you react.
Suppose past year's real GDP was $7,000 billion, this year nominal GDP is $8,820 billion, and GDP deflator for this year is 120. Determine the growth rate of real GDP? Does this demonstrate an improvement in economic welfare?
Is Guatemala debt makes if the government runs a balanced budget in both a and b.
Can you explain why two variables with a moderate or strong linear correlation does not prove causation by giving an example of two moderately or strongly correlated variables that do not have a causal link. This example can be purely be qualitative ..
During the late 1990s, several mergers among brokerage houses resulted in the acquiring firm paying a premium on the order of $100 for each of the acquired firm's customers.
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