Question: Exercise 4.1 The Excel data set FOREST.XLS contains data on Y = deforestation, X = population density, W = change in cropland and Z =

Exercise 4.1 The Excel data set FOREST.XLS contains data on Y = deforestation, X = population density, W = change in cropland and Z = change in pasture land.

(a) Run a regression of Y on X and interpret the results.

(b) Run a regression of Y on W and one of Y on Z and interpret the results.

(c) Create a new variable, V, by dividing X by 100. What are the units in terms of which V is measured?

(d) Run a regression of Y on V. Compare your results to those for (a). How do you interpret your coefficient estimate of b? How does aˆ differ between

(a) and (d)?

(e) Experiment with scaling dependent and explanatory variables (i.e. by dividing them by a constant) and see what effect this has on your coefficient estimates.

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