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4 | The fraction of z-scores that fall within z = ±1.60 is ________. | ||||
a | 0.8904 | ||||
b | 0.8729 | ||||
c | 0.8558 | ||||
d | 0.8390 |
The answer is a. 0.8904.
Fraction of values under -1.60 is .0548
Fraction of values under 1.60 is .9452
The fraction of values between these two numbers is (0.9452-0.0548)=0.8904
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- 5 What is the z-score that bounds a tail area of 0.15? a 1.10 b 1.07 c 1.04 d 1.01Dependent Variable: Pass Experience Male Malex Experience Constant Probit Logit (1) (2) 0.031 0.040 (0.009) (0.016) 0.712 (0.126) Linear Probability (3) 0.006 (0.002) 1.059 0.774 (0.221) (0.034) Probit (4) -0.333 (0.161) 1.282 (0.124) Logit (5) -0.622 (0.303) 2.197 (0.242) Linear Probability (6) -0.071 (0.034) 0.900 (0.022) Probit (7) 0.041 (0.156) -0.074 (0.259) -0.015 (0.019) 0.806 (0.200) Problem 1. (~SW 11.2) Using the results of column (2): (a) Does the probability of passing the test depend on Experience? Explain. (b) Matthew has 10 years of driving experience. What is the probability that he will pass the test? (c) Christopher is a new driver (zero years of experience). What is the probability that he will pass the test? (d) Sketch the predicted probabilities from the probit and logit regressions in column (1) and (2) for values of Experience between 0 and 60. Are the probit and logit models similar?DEPENDENT VARIABLE Qc R- SQUARE P- VALUE ON F 64 0.8093 0.0001 INDEPENDENTVARIABLE PARAMETER ESTIMATE STANDARD ERROR T-RATIO P-VALUE INTERCEPT 8.20 4.01 2.04 0.0461 PC -3.54 1.64 -2.16 0.0357 M 0.64287 0.19 3.38 0.0014 PA 0.7854 0.38 2.07 0.0439 3. What can you say about the relationship between cement and asphalt? Why? Q = f( P, M, PR) where Qc = demand for cement/month (in yards) Pc = the price of cement per yard, M = country’s tax revenues per capita, and PR = the price of asphalt per yard.
- DEPENDENT VARIABLE Qc R- SQUARE P- VALUE ON F 64 0.8093 0.0001 INDEPENDENTVARIABLE PARAMETER ESTIMATE STANDARD ERROR T-RATIO P-VALUE INTERCEPT 8.20 4.01 2.04 0.0461 PC -3.54 1.64 -2.16 0.0357 M 0.64287 0.19 3.38 0.0014 PA 0.7854 0.38 2.07 0.0439 6. If tax revenue per capita (M) increases by 10, what will happen to the estimated quantity of cement demanded? Q = f( P, M, PR) where Qc = demand for cement/month (in yards) Pc = the price of cement per yard, M = country’s tax revenues per capita, and PR = the price of asphalt per yard.DEPENDENT VARIABLE Qc R- SQUARE P- VALUE ON F 64 0.8093 0.0001 INDEPENDENTVARIABLE PARAMETER ESTIMATE STANDARD ERROR T-RATIO P-VALUE INTERCEPT 8.20 4.01 2.04 0.0461 PC -3.54 1.64 -2.16 0.0357 M 0.64287 0.19 3.38 0.0014 PA 0.7854 0.38 2.07 0.0439 9. Calculate the price elasticity, cross-price elasticity, and income elasticity of demand for cement. Explain these figures. Q = f( P, M, PR) where Qc = demand for cement/month (in yards) Pc = the price of cement per yard, M = country’s tax revenues per capita, and PR = the price of asphalt per yard.DEPENDENT VARIABLE Qc R- SQUARE P- VALUE ON F 64 0.8093 0.0001 INDEPENDENTVARIABLE PARAMETER ESTIMATE STANDARD ERROR T-RATIO P-VALUE INTERCEPT 8.20 4.01 2.04 0.0461 PC -3.54 1.64 -2.16 0.0357 M 0.64287 0.19 3.38 0.0014 PA 0.7854 0.38 2.07 0.0439 4. At the 5% level of significance, which variables are statistically significant?
- DEPENDENT VARIABLE Qc R- SQUARE P- VALUE ON F 64 0.8093 0.0001 INDEPENDENTVARIABLE PARAMETER ESTIMATE STANDARD ERROR T-RATIO P-VALUE INTERCEPT 8.20 4.01 2.04 0.0461 PC -3.54 1.64 -2.16 0.0357 M 0.64287 0.19 3.38 0.0014 PA 0.7854 0.38 2.07 0.0439 7. If the price of asphalt (PR) decreases by 15, what will happen to the estimated quantity of cement demanded? Q = f( P, M, PR) where Qc = demand for cement/month (in yards) Pc = the price of cement per yard, M = country’s tax revenues per capita, and PR = the price of asphalt per yard.Answer is wrong should be 4.25DEPENDENT VARIABLE Qc R- SQUARE P- VALUE ON F 64 0.8093 0.0001 INDEPENDENTVARIABLE PARAMETER ESTIMATE STANDARD ERROR T-RATIO P-VALUE INTERCEPT 8.20 4.01 2.04 0.0461 PC -3.54 1.64 -2.16 0.0357 M 0.64287 0.19 3.38 0.0014 PA 0.7854 0.38 2.07 0.0439 10. Write the resulting regression equation. Q = f( P, M, PR) where Qc = demand for cement/month (in yards) Pc = the price of cement per yard, M = country’s tax revenues per capita, and PR = the price of asphalt per yard.
- How does Qs = 9 I thought it would be 27DEPENDENT VARIABLE Qc R- SQUARE P- VALUE ON F 64 0.8093 0.0001 INDEPENDENTVARIABLE PARAMETER ESTIMATE STANDARD ERROR T-RATIO P-VALUE INTERCEPT 8.20 4.01 2.04 0.0461 PC -3.54 1.64 -2.16 0.0357 M 0.64287 0.19 3.38 0.0014 PA 0.7854 0.38 2.07 0.0439 Explain the interceptand the coefficients of Pc, M, and PA.Define the Ordinary Least Square estimator is linear and conditionally unbiased?