managerial economics
Project Description:
the task assigment must be completed on microsoft excel with graphs included. the task is due on sunday night, but would like it to be completed by saturday night, early sunday morning due to lack of power right now where i'm living. easiest way to contact me is smiley.edwards@gmail.com
task exercises
1. thirty data points on y and x are employed to estimate the parameters in the linear
relation y = a + bx. the computer output from the regression analysis is
dependent variable: y rsquare fratio pvalue on f
observations: 30 0.3301 13.79 0.0009
variable
parameter
estimate
standard
error
tratio
pvalue
intercept 93.54 46.210 2.02 0.0526
x –3.25 0.875 –3.71 0.0009
a. the equation of the sample regression line is yˆ = _________________.
b. there are ______ degrees of freedom for the ttest. at the 1% level of significance,
the critical tvalue for the test is ______________.
c. at the 1% level of significance, aˆ __________ (is, is not) significant, and bˆ
________ (is, is not) significant.
d. at the 2% level of significance, the critical tvalue for a ttest is
___________. at the 2% level of significance, ˆ a ____________ (is, is not)
significant, and bˆ ____________ (is, is not) significant.
e. the pvalue for bˆ indicates that the exact level of significance is ______
percent, which is the probability of _________________________________
_____________________________________________________________.
f. at the 1% level of significance, the critical value of the fstatistic is
__________. the model as a whole ______________(is, is not) significant at
the 1% level.
g. if x equals 500, the fitted (or predicted) value of y is __________________.
h. the percentage of the total variation in y not explained by the regression is
______________ percent.
i. explain why it is necessary to assess the statistical significance of the
parameter estimates.
chapter 4: basic estimation techniques
98
2. suppose y is related to r and s in the following nonlinear way:
y = arbsc
a. in order to estimate the parameters a, b, and c, the equation must be transformed
into the form: ___________________________________.
twentysix observations are used to obtain the following regression results:
dependent variable: lny rsquare fratio pvalue on f
observations: 26 0.3647 4.21 0.0170
variable
parameter
estimate
standard
error
tratio
pvalue
intercept 2.9957 0.3545 8.45 0.0001
lnr 2.34 0.87 2.69 0.0134
lns –0.687 0.334 –2.06 0.0517
b. there are __________ degrees of freedom for the ttest. at the 1% level of
significance, the critical tvalue for the test is ________________.
c. at the 1% level of significance, aˆ ____________ (is, is not) significant, bˆ
__________ (is, is not) significant, and ˆ c ___________ (is, is not) significant.
d. the estimated value of a is __________________.
e. the pvalue for bˆ indicates that the exact level of significance is _______
percent, which is the probability of _________________________________
_____________________________________________________________.
f. at the 1% level of significance, the critical value of the fstatistic is
_________. the model as a whole ___________ (is, is not) significant at the
1% level.
g. if r = 12 and s = 30, the fitted (or predicted) value of y is _____________.
h. the percentage of the total variation in the dependent variable not explained
by the regression is _______________ percent.
i. if r increases by 14%, y will increase by ________ percent.
j. a 6.87% increase in y will occur if s ________________ (increases, decreases)
by _______ percent.
task exercises
1. thirty data points on y and x are employed to estimate the parameters in the linear
relation y = a + bx. the computer output from the regression analysis is
dependent variable: y rsquare fratio pvalue on f
observations: 30 0.3301 13.79 0.0009
variable
parameter
estimate
standard
error
tratio
pvalue
intercept 93.54 46.210 2.02 0.0526
x –3.25 0.875 –3.71 0.0009
a. the equation of the sample regression line is yˆ = _________________.
b. there are ______ degrees of freedom for the ttest. at the 1% level of significance,
the critical tvalue for the test is ______________.
c. at the 1% level of significance, aˆ __________ (is, is not) significant, and bˆ
________ (is, is not) significant.
d. at the 2% level of significance, the critical tvalue for a ttest is
___________. at the 2% level of significance, ˆ a ____________ (is, is not)
significant, and bˆ ____________ (is, is not) significant.
e. the pvalue for bˆ indicates that the exact level of significance is ______
percent, which is the probability of _________________________________
_____________________________________________________________.
f. at the 1% level of significance, the critical value of the fstatistic is
__________. the model as a whole ______________(is, is not) significant at
the 1% level.
g. if x equals 500, the fitted (or predicted) value of y is __________________.
h. the percentage of the total variation in y not explained by the regression is
______________ percent.
i. explain why it is necessary to assess the statistical significance of the
parameter estimates.
chapter 4: basic estimation techniques
98
2. suppose y is related to r and s in the following nonlinear way:
y = arbsc
a. in order to estimate the parameters a, b, and c, the equation must be transformed
into the form: ___________________________________.
twentysix observations are used to obtain the following regression results:
dependent variable: lny rsquare fratio pvalue on f
observations: 26 0.3647 4.21 0.0170
variable
parameter
estimate
standard
error
tratio
pvalue
intercept 2.9957 0.3545 8.45 0.0001
lnr 2.34 0.87 2.69 0.0134
lns –0.687 0.334 –2.06 0.0517
b. there are __________ degrees of freedom for the ttest. at the 1% level of
significance, the critical tvalue for the test is ________________.
c. at the 1% level of significance, aˆ ____________ (is, is not) significant, bˆ
__________ (is, is not) significant, and ˆ c ___________ (is, is not) significant.
d. the estimated value of a is __________________.
e. the pvalue for bˆ indicates that the exact level of significance is _______
percent, which is the probability of _________________________________
_____________________________________________________________.
f. at the 1% level of significance, the critical value of the fstatistic is
_________. the model as a whole ___________ (is, is not) significant at the
1% level.
g. if r = 12 and s = 30, the fitted (or predicted) value of y is _____________.
h. the percentage of the total variation in the dependent variable not explained
by the regression is _______________ percent.
i. if r increases by 14%, y will increase by ________ percent.
j. a 6.87% increase in y will occur if s ________________ (increases, decreases)
by _______ percent.
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