the standard errors in parentheses below the coefficient estimate 3. (Continuation from Chapter 4, number 5) You have learned in one of your economics courses that oneof the determinants of per capita income (the "Wealth of Nations") is the population growth rate.Furthermore you also found out that the Penn World Tables contain income and population data for 104countries of the world. To test this theory, you regress the GDP per worker (relative to the UnitedStates) in 1990 (RelPersInc) on the difference between the average population growth rate of thatcountry (n) to the U.S. average population growth rate (nus ) for the years 1980 to 1990. This results inthe following regression output:RelPerslne = 0.518 – 18.831×(n – nus) , R2 = 0.522, SER = 0.197(0.056)(3.177)a. Is there any reason to believe that the variance of the error terms is homoskedastic?b. Is the relationship statistically significant?

Given Information: Given is the regression equation of Y on X as, Y (RelPersInc)=0.518-18.831 × X…

3. (Continuation from Chapter 4, number 5) You have learned in one of your economics courses that one of the determinants of per capita income (the "Wealth of Nations") is the population growth rate. urthermore you also found out that the Penn World Tables contain income and population data for 104 ountries of the world. To test this theory, you regress the GDP per worker (relative to the United tates) in 1990 (RelPersInc) on the difference between the average population growth rate of that ountry (n) to the U.S. average population growth rate (nus ) for the years 1980 to 1990. This results in he following regression output:

3. (Continuation from Chapter 4, number 5) You have learned in one of your economics courses that one of the determinants of per capita income (the "Wealth of Nations") is the population growth rate. urthermore you also found out that the Penn World Tables contain income and population data for 104 ountries of the world. To test this theory, you regress the GDP per worker (relative to the United tates) in 1990 (RelPersInc) on the difference between the average population growth rate of that ountry (n) to the U.S. average population growth rate (nus ) for the years 1980 to 1990. This results in he following regression output:

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter2: Systems Of Linear Equations

Section2.4: Applications

Problem 16EQ

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