Life expectancy is measured in years. Expenditures are overall health expenditures. We also have data on...
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Life expectancy is measured in years. Expenditures are overall health expenditures. We also have data on GDP per capita (measured in thousands of US 2010 dollars) and six dummy variables indicating region (EastEur = 1 for countries from Eastern Europe, LatinAmerica = 1 for countries in Latin America, Asia = 1 for countries in Asia, NorthAm =1 for countries from North America, etc). We estimate the following regression, where dummy variables for all regions except North America are included, and obtain the following results: LifeExpectancy 72.30+ 0.29 Expenditures + 0.023GDPpc + 2.08East Eur + 4.27L Suppose we had instead excluded Middle East (and included North America). What would be the (approximate) value for the coefficients of the following variables (enter your answer rounded to two decimal places): = The estimated intercept would be 2 the coefficient on expenditures would be the estimated coefficient on the NorthAm dummy variable would be and the estimated coefficient on the Eastern Europe dummy variable would be Life expectancy is measured in years. Expenditures are overall health expenditures. We also have data on GDP per capita (measured in thousands of US 2010 dollars) and six dummy variables indicating region (EastEur = 1 for countries from Eastern Europe, LatinAmerica = 1 for countries in Latin America, Asia = 1 for countries in Asia, NorthAm =1 for countries from North America, etc). We estimate the following regression, where dummy variables for all regions except North America are included, and obtain the following results: LifeExpectancy 72.30+ 0.29 Expenditures + 0.023GDPpc + 2.08East Eur + 4.27L Suppose we had instead excluded Middle East (and included North America). What would be the (approximate) value for the coefficients of the following variables (enter your answer rounded to two decimal places): = The estimated intercept would be 2 the coefficient on expenditures would be the estimated coefficient on the NorthAm dummy variable would be and the estimated coefficient on the Eastern Europe dummy variable would be
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Lets think through this stepbystep The intercept would remain the same at 7230 ... View the full answer
Related Book For
Fundamentals of Cost Accounting
ISBN: 978-0077398194
3rd Edition
Authors: William Lanen, Shannon Anderson, Michael Maher
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