Suggest a simple way to reformulate the model

Reference no: EM131798744

Consider the results of a survey where students were asked about their GPA and also to break down their typical 24-hour day into study, leisure (including work), and sleep. Consider the model GPA = β₀ + β₁ Study + β₂Leisure + β ₃Sleep + ε.

a. What is wrong with this model?

b. Suggest a simple way to reformulate the model.

Reference no: EM131798744

Questions Cloud

How much will the account be worth at thr given time : For the last 19 years, Mary has been depositing $500 in her savings account , which has earned 5% per year. How much will this account be worth at that time?

Values of the explanatory variable : a. Graph the residualse against the values of the explanatory variable x and look for any discernible pattern.

Find the predicted average life span : Life span With data for selected years from 1920 to 2007, the life span of individuals in the United States can be modeled.

Calculate the payback period and the accounting rate : Calculate the payback period and the accounting rate of return for the new production equipment

Suggest a simple way to reformulate the model : Consider the results of a survey where students were asked about their GPA and also to break down their typical 24-hour day into study, leisure.

What is the total cost of producing the good : Cost (a) If the marginal cost for x units of a good is (MC)? = v(x2 + 9) (dollars per unit) and if the fixed cost is $300, what is the total cost function?

Find the company degree of operating leverage : QUESTION 3 - Eneliko Company installs home theater systems. Compute the company's degree of operating leverage

How much of the social security is subject to tax : They received $23,000 of social security benefits during the year. How much of the social security is subject to tax

Heteroskedasticity in the model : Which of the explanatory variables might cause heteroskedasticity in the model? Explain.

User Account

All Pages