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Concepts
Interpret the regression equation that you calculated in the prior section. What is the meaning of y = 6.80+0.62x?
Many people have expressed concern that more and more of our food is grown on massive, factory-style corporate farms and that U.S. agricultural subsidies are contributing to this trend.
Suppose that I had data on farm subsidies and farm size. I regress farm size (measured by gross sales in dollars) on subsidy payments received in the calendar year. I find that a farm with 10 cents more in subsidies has on average 4 cents more in sales.
a) State carefully the ceteris paribus assumption in this case. Do you think this simple regression of Y on X satisfies that assumption? Why or why not? What are some of the other factors that explain our incomes, and do you think these might vary as parental income varies across different families? Explain.
b) Pick one of the "other factors" mentioned in (a). Let's call it x2. Suppose you augmented the simple regression with x2. How do you think this would affect the estimate of the coefficient on farm subsidies received (β1)?
c) Imagine an experiment where a randomly selected group of farms are given a 10% increase in subsidy. In this case, would it matter whether x2 was included in the regression? Explain.
Huang Industries is planning a proposed project whose estimated NPV is twelve million dollar. This estimate suppose that economic situations will be average.
Discuss the relationship in the price and quantity demanded in question four on a graph. Is the relationship direct or inverse?
Simple linear regression predicting the change in performance (in seconds taken to run a race) for 800m runners by the average hours of training undertaken per week during the pre-season.
Discuss forecasting and explain why is it so important in the management of business firms and other enterprises also determine the different types of forecasting?
Explain why this model violates the assumption of no perfect collinearity. Write the t statistic for testing the null hypothesis
Using the two economic indicators selected for your Housing Industry Overview Paper assignment, Compare and contrast at least two different eighteen month forecasts for each of the 2-economic indicators.
Post-war Recessions in the UK - Identify the periods of recession in the United Kingdom since 1955, stating clearly the criteria that you are using to define recessions.
There is a big gap in the earnings of married women and married men, even if individuals of both sex have the same level of education.
The Australian government administers two programs that affect the market for cigarettes.
If a corporation operates in a highly competitive industry and competes against many other companies. In the last some years, many new companies have entered the industry and firm now earns a return on investment very close to prevailing interest rat..
A labor economist estimates a regression of log earnings on schooling, experience, ability, as measured through, and interactions in schooling and experience,
Suppose that you have just been employed as a consultant to help a company decide which of 3-options to take to maximize the value of the company over the next three years.
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