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Consider the regression model of:
murderratet = β0 + β1 policebudgett + ?t
where murderratet is the annual murder rate in Fresno in year t, policebudgett is the annual police budget in Bakersfield. The data set available has one observation for each of the last 36 years.
(a) What assumptions must hold for OLS to give an unbiased estimate of the β1 the structural effect of increasing the police budget on the murder rate?
(b) Which of these assumptions is most likely violated if policebudgett, depends on murderratet-1?
(c) What assumptions must hold for OLS to give a consistent estimate of the β1, the structural effect of increasing the police budget on the murder rate?
(d) Which of these assumptions is most likely violated if policebudgett, depends on murderratet-1?
Solve Tracy's problem of how often to go to the ATM when the nominal interest rate on her bank account is 10 percent, she spends $30 each day, it costs her $.50 each time she uses the ATM, and she thinks that there is a 15 percent chance.
Determine the equilibrium output level for both the leader and the follower.
What will the new price of the bond be if the interest rate falls to 3 percent?
A researcher sureys a group of working married women and reports the following results for the first four surveyed: Person % of contribution to household income % contribution to housework x Zx Y Zy C1 601.34 70-1.15 F3 30 -1.34 100 1.61
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A new gear grinding machine for composite materials has a first cost of P=$100,000 and can be used for a maximum of 3 years. Its salvage value is estimated by the relation S=P(0.85)n, where n is the number of years after purchase. The operating co..
When the price of insulin was $10 consumers demanded 100 units, when the price was $15 consumers demanded 100 units, and when the price was $20 consumers demanded 100 units. Based on this information, insulin must have a(n) demand curve.
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