User Account

All Pages

Estimate for the slope coefficient associated

Assignment Help Macroeconomics
Reference no: EM133202716

Problem:

A colleague conducted a statistical analysis and needs your assistance in interpreting the results.

The estimated regression equation is given by:

??= 75 + 7.46(??1) -1.77(??2) + 2.83(??3)

The dependent variable is the transaction price of used yachts measured in thousands of dollars.

x1 is the number of rooms on board the yacht.

x2 is the age of the yacht measured in years.

x3 is the length of the yacht measured in feet.

R2 = 0.68

Adjusted R2 = 0.60

n = 75

(a) Explain briefly why the "R2" and the "Adjusted R2" statistics differ in this output.

(b) Identify and interpret the estimate for the slope coefficient associated with the independent variable "age of the yacht." Be specific.

(c) Identify and interpret the estimate for the intercept (or constant term). Include both the literal interpretation and a practical assessment.

(d) Construct a point estimate for the predicted transaction price of a used yacht that has 4 rooms, 
is 8 years old, and is 35 feet long.

Please use minitab or excel to show work.

Reference no: EM133202716

Questions Cloud

What is price discrimination : Question 1: Explain why the prices of agricultural products tend to fluctuate more than the prices of manufactured goods.
Structure of federal bureaucracy : PS 1010-Columbia Southern University-What is the structure of the federal bureaucracy? What is the structure and role of the judiciary system?
Advantage of the lower current interest rates : John Smith is planning to refinance his home mortgage to take advantage of the lower current interest rates. As part of the refinancing application, the bank ne
Write Reflection Post on Harms : Write a Reflection Post on Harms, Africa in Global History, Chapter 6, Expansionist States and Decentralized Power in Atlantic Africa and submit on Moodle.
Estimate for the slope coefficient associated : A colleague conducted a statistical analysis and needs your assistance in interpreting the results.
Digitizing the consumer decision journey : Please ensure your writing is thoughtful, substantive and connects not only to specific information in the supporting reading but incorporates course concepts
Soviet union affect american culture and society : Do you think the United States was justified in using Atomic weapons to end the war against Japan in 1945?
Computing the real income : The table below lists hypothetical CPI and wage values for the United States from different decades.
Propose three ways that a mentor can assist employees : Propose three ways that a mentor and a new employee orientation can assist employees with their career development

Reviews

Write a Review

Macroeconomics Questions & Answers

  Assignment-production possibilities

CleanAuto Inc. has four workers: Julie, Ian, Devon, and Thomas. CleanAuto Inc. provides two services: interior vacuuming and exterior wash. Julie can perform each of these tasks in one hour.

  Classification of exotoxin based on target cell

Classification of exotoxin based on their target cell: cytotoxin, neurotoxin, enterotoxin. give example for each including the bacteria that produce them?

  Why is export price instability judged to be a problem

Why is export price instability judged to be a problem for the LDCs? Why might it seem more likely to occur for LDCs than for ICs?

  Air transportation safety and system stabilization act

Discuss how the Air Transportation Safety and System Stabilization Act and the Homeland Security Act both financially assisted the airlines and increased their financial burden.

  What is the exact issue

What is the exact issue? How should the case be decided? Cite any cases or legal theories

  Question about increased productivity

The technology helps to grow productivity, which in turn frees up resources - permit interest rates to remain lower than otherwise possible. But i am not sure how increased productivity drives economic growth.

  Optimal level of safety stock

The optimal No. of orders is 6. What is the optimal level of safety stock and the associated re-order point?

  Define most preferred to least preferred type of shock

Suppose that the economy is currently at potential output.Also suppose that you are an economic policy maker and that acollege economics student asks you to rank, if possible, your most preferred to least preferred type of shock:

  What does the taylor rule predict

Target inflation is 4 percent; actual inflation is 9 percent. Output equals potential output. What does the Taylor rule predict will be the Fed funds rate?

  Senior member of an international risk management firm

Case Situation: You are a senior member of an international risk management firm. An important and long standing client with significant operations in the UK, EU and North America has come to you for advice on the potential impact of the British e..

  Explain how real GDP measures performance of the economy

Production output performance analysis - Define and explain how real GDP measures performance of the economy. Provide an overview of the chosen economy

  Weighted index of the four investments combined

A second fund includes the same three investments, A, B and C, together with a fourth investment D.The weightings of investments A, B and C are as above, and the weighting of investment D is 50.Over the same period, the weighted index of the four ..

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd