Question: Suppose the average polling result in your sample is ( {Y}=23 ) (that is, 23 percentage points), and average campaign spending (in millions of dollars)

Suppose the average polling result in your sample is ( {Y}=23 ) (that is, 23 percentage points), and average campaign spending (in millions of dollars) is ( X5 ), with sample standard deviation st.dev. ( (X)=3 ), and the sample covariance between polling results and campaign spending is ( hat{C}left(Y_{i}, x_{1 i} ight)=36 ). Give the numerical value of your estimates ( hat{b}_{1} ) and ( hat{b}_{0} ). What do your estimates predict a candidate would have to spend in order to get a polling result of, say, 51 (that is, a strict majority)?
 Suppose the average polling result in your sample is ( {Y}=23

Suppose the average polling result in your sample is Y=23 (that is, 23 percentage points), and average campaign spending (in millions of dollars) is X=5, with sample standard deviation st.dev. (X)=3, and the sample covariance between polling results and campaign spending is C^(Yi,x1i)=36. Give the numerical value of your estimates b^1 and b^0. What do your estimates predict a candidate would have to spend in order to get a polling result of, say, 51 (that is, a strict majority)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!