The following sample data shows ACT scores and GPA for eight random Econ majors at FIU:...
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The following sample data shows ACT scores and GPA for eight random Econ majors at FIU: Student GPA ACT 1 3.02 30 2 3 4 5 6 7 8 3.8 29 3.65 33 2.02 15 2.46 18 3.09 23 2.74 17 3.92 32 a. Estimate the relationship between GPA and ACT using OLS; that is, derive the intercept and slope estimates of GPA; = B + B₁ACT; + ê;. b. Compute the predicted values of GPA for all observations. c. Compute the mean value for GPA and for the predicted value of GPA. Report your results. d. Compute the residuals for each observation, do they, approximately, sum up to zero? e. Compute the correlation between ACT and ê. The following sample data shows ACT scores and GPA for eight random Econ majors at FIU: Student GPA ACT 1 3.02 30 2 3 4 5 6 7 8 3.8 29 3.65 33 2.02 15 2.46 18 3.09 23 2.74 17 3.92 32 a. Estimate the relationship between GPA and ACT using OLS; that is, derive the intercept and slope estimates of GPA; = B + B₁ACT; + ê;. b. Compute the predicted values of GPA for all observations. c. Compute the mean value for GPA and for the predicted value of GPA. Report your results. d. Compute the residuals for each observation, do they, approximately, sum up to zero? e. Compute the correlation between ACT and ê.
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To estimate the relationship between GPA and ACT scores using Ordinary Least Squares OLS regression ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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