2. Are rent rates influenced by the student population in a town? We, thus, wish to test the following relationship: log(rent) = Bo + B1 log(pop) + ß2 log(avginc) + Bzpctstu + u where log is the natural logarithm, rent is the average monthly rental paid on rental units, pop is the total city population, gyginc is the average city income and petstu is the student population as a percentage of the total population. Based on the above model the following equation is estimated: log(rent) = 0.043 + 0.066 log(pop) + 0.570 log(avginc) + 0.0056pctstu (0.081) (0.844) (0.039) (0.0017) n= 64, R² = 0.458 (standard errors in parentheses) a) Test the null hypothesis that the size of the student population has no ceteris paribus effect on the monthly rent against the alternative that there is an effect at 5% significance level. b) What signs do you expect for B1 and B2?

2. Are rent rates influenced by the student population in a town? We, thus, wish to test the following relationship: log(rent) = Bo + B1 log(pop) + ß2 log(avginc) + Bzpctstu + u where log is the natural logarithm, rent is the average monthly rental paid on rental units, pop is the total city population, gyginc is the average city income and petstu is the student population as a percentage of the total population. Based on the above model the following equation is estimated: log(rent) = 0.043 + 0.066 log(pop) + 0.570 log(avginc) + 0.0056pctstu (0.081) (0.844) (0.039) (0.0017) n= 64, R² = 0.458 (standard errors in parentheses) a) Test the null hypothesis that the size of the student population has no ceteris paribus effect on the monthly rent against the alternative that there is an effect at 5% significance level. b) What signs do you expect for B1 and B2?

Name: answeres to parts a b c with working 2. Are rent rates influenced by t
Uploaded: 2024-03-05T11:53:49.000Z
Channel: Bartleby
Description: answeres to parts a b c with working 2. Are rent rates influenced by the student population in a town? We, thus, wish to test the followingrelationship:log(rent) = Bo + B1 log(pop) + ß2 log(avginc) + Bzpctstu + uwhere log is the natural logarithm, re

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter5: Inverse, Exponential, And Logarithmic Functions

Section5.6: Exponential And Logarithmic Equations

Problem 69E

See similar textbooks

Similar questions

What might a scatterplot of data points look like if it were best described by a logarithmic model?
What type (s) of translation (s), if any, affect thedomain ofa logarithmic function?
Consider a simple model to explain a country’s alcohol related automobiles incidents (totaai) in terms of police police officers (topps): Estimating (a) using quarterly data from 1991-2024 gives: log(totaait) = 12.58 − 0.66 log(topps); (2.22) (0.33) n = 95; R2 = :439; 2. Test the null hypothesis that the coefficient on the log(topps) has no effect on the log(totaait) at the 5% level. 3. Suppose that both total alcohol incidents (totaai) and total police officers (totts) have a positive trend. Given this information, discuss whether the OLS estimates of ˛1 from equation (a) is unbiased (i.e., E(˛ˆ 1) = ˛1)?
Consider a simple model to explain a country’s alcohol related automobiles incidents (totaai) in terms of police police officers (topps): Estimating (a) using quarterly data from 1991-2024 gives: log(totaait) = 12.58 − 0.66 log(topps); (2.22) (0.33) n = 95; R2 = :439; 3. Suppose that both total alcohol incidents (totaai) and total police officers (totts) have a positive trend. Given this information, discuss whether the OLS estimates of ˛1 from equation (a) is unbiased (i.e., E(˛ˆ 1) = ˛1)?
19. The number of pounds of steam used per month by a chemical plant is thought to be related to the average ambient temperature (in °F) for that month. The past year's usage and temperatures are in the following table: Month Temp. Usage/1000 Jan. 21 185.79 Feb. 24 214.47 Mar. 32 288.03 Apr. 47 424.84 May 50 454.58 June 59 539.03 July 68 621.55 Aug. 74 675.06 Sept. 62 562.03 Oct. 50 452.93 Nov. 41 369.95 Dec. 30 273.98 (c) Find a 95% confidence interval on mean steam usage when the average temperature is 57°F. Round your answers to one decimal place (e.g. 98.7).
3. (Inspired by 4.10 in Bodine et al.) The basal metabolic rate (kcal/day) of large anteaters is believed to be subject to a power law relationship with its weight (kg). A study was performed measuring several anteaters and reported the following data: Weight (kg) 6.0 28.5 16.0 19.0 23.5 11.0 9.0 25.5 22.0 BMR (kcal/day) 80.1 247.0 162.3 172.4 215.1 111.9 104.6 224.6 208.3
The following table contains statistics from a logistic regression analysis for a study on intravenous drug use among high school students in United States. Drug use is characterized as a dichotomous variable, where 1 indicates that an individual has injected drugs within the past year and 0 that he or she has not. Factors that might be related to drug use are instruction about the HIV in school (1 represents "had HIV education" and 0 represents "did not have HIV education"), age of the student (in years), and gender (1 represents male and 0 represents female). Statistics in the table are estimated coefficients of the logistic regression model and p-values for testing the significance of the coefficients. Choose proper answers using statistics in the following table. (THERE MAY BE MORE THAN ONE CORRECT ANSWER) Variable Coefficient p-value Intercept (Constant) -0.164 0.078 HIV instruction 0.019 0.928 Age 0.064 0.036 Gender 1.032 0.014…
The number of pounds of steam used per month by a chemical plant is thought to be related to the average ambient temperature (in F) for that month. The past year’s usage and temperatures are in the following table: Month Temp. Usage/1000 Month Temp. Usage/1000 Jan. 21 185.79 July. 68 621.55 Feb. 24 214.47 Aug. 74 675.06 Mar. 32 288.03 Sept. 62 562.03 Apr. 47 424.84 Oct. 50 452.93 May 50 454.58 Nov. 41 369.95 June 59 539.03 Dec. 30 273.93 Find a 99% CI for β1.
The number of pounds of steam used per month by a chemical plant is thought to be related to the average ambient temperature (in F) for that month. The past year’s usage and temperatures are in the following table: Month Temp. Usage/1000 Month Temp. Usage/1000 Jan. 21 185.79 July. 68 621.55 Feb. 24 214.47 Aug. 74 675.06 Mar. 32 288.03 Sept. 62 562.03 Apr. 47 424.84 Oct. 50 452.93 May 50 454.58 Nov. 41 369.95 June 59 539.03 Dec. 30 273.93 Suppose that the monthly average temperature is 47 F. Calculate the fitted value of y and the corresponding residual. Test for significance of regression using α=0.01 (Use ANOVA). Calculate the r2 of the model. Find a 99% CI for .
Consider the following panel model to examine the effect of retirement on consumption expenditure, consit, of individual i over years t=1,…,3: (B1) log⁡(consit) = β0 + β1retiredit + β2ageit + β3marriedit + β4healthit + δ1Yr2t + δ2Yr3t + ai + uit Where: retiredit is a dummy variable equal to 1 if individual i is retired on year t and 0 otherwise ageit is the individual's age in years marriedit is an indicator variable for whether the individual is married (1) or not (0) in year t healthit is an indicator variable equal to 1 if the individual is in 'good health' and 0 otherwise Yr2 is a dummy variable equal to 1 in year t=2 and 0 otherwise Yr3 is a dummy variable equal to 1 in year t=3 and 0 otherwise Using the information above, answer the following 3 questions. [i] Give two (2) examples of the kind of variables captured by the term ai in Model (B1). [ii] What is the crucial assumption we must make so that the random effects (RE) estimator is consistent? Under this assumption, why is…
3. (Inspired by 4.10 in Bodine et al.) The basal metabolic rate (kcal/day) of large anteaters is believed to be subject to a power law relationship with its weight (kg). A study was performed measuring several anteaters and reported the following data: Weight (kg) 6.0 28.5 16.0 19.0 23.5 11.0 9.0 25.5 22.0 BMR (kcal/day) 80.1 247.0 162.3 172.4 215.1 111.9 104.6 224.6 208.3 Transform the data correctly to perform a linear least-squares regression, then report your model as y=cxp. Estimate the BMR for a 27 kg anteater.
A researcher is interested in studying the relationship between commute time (defined as the number of minutes it takes a person to get to work in the morning) and job satisfaction (defined on a scale from 1=very dissatisfied to 5=very satisfied). The researcher believes that a person with a longer commute time will have lower job satisfaction. The researcher surveys 20 Valley commuters and finds the following data. Respond to questions 1 and 2 based on these data. Commuter Length of Commute (minutes) Job Satisfaction(1=very dissatisfied;5=very satisfied) Commuter 1 10 4 Commuter 2 65 1 Commuter 3 30 4 Commuter 4 40 2 Commuter 5 15 5 Commuter 6 20 5 Commuter 7 60 2 Commuter 8 50 1 Commuter 9 45 3 Commuter 10 20 3 Commuter 11 30 4 Commuter 12 35 4 Commuter 13 20 5 Commuter 14 30 4 Commuter 15 40 2 Commuter 16 10 5 Commuter 17 20 5 Commuter…