5. Can i get help with this practice question i am working on. 5. a. By looking at a large data set from Statistics Canada (which can be accessed athttps://www.statcan.gc.ca/ although there is no need to) with over 60,000 observations for the year 2018,you find that the average number of years of education is approximately 15.6. However, a surprisinglylarge number of individuals (approximately 800) have very low values for this variable, namely, 6 yearsor less. Suppose that you decide to drop these observations, since none of your relatives or friends havefew years of education. In addition, you are concerned that if these individuals cannot report the years ofeducation correctly, then their observations on other variables, such as their average hourly earnings alsocannot be trusted. As a matter of fact, you have found several of these to be below minimum wages inOntario in 2018. Discuss if dropping these odd observations is reasonable.b. On a separate occasion, suppose that the sales revenue of firms are normally distributed with thefunction of N(200,25). Let Y represent sales revenue. Find the probability of Pr(190

A response, Of course, it's normal to make unusual observations. Even yet, this information is…

Answered: a. By looking at a large data set from…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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In the December, 1969, American Economic Review (pp. 886-896), Nathanial Leff reports thefollowing least squares regression results for a cross section study of the effect of age composition onsavings in 74 countries in 1964:log S/Y = 7.3439 + 0.1596 log Y/N + 0.0254 log G - 1.3520 log D1 - 0.3990 log D2 (R2= 0.57)log S/N = 8.7851 + 1.1486 log Y/N + 0.0265 log G - 1.3438 log D1 - 0.3966 log D2 (R2= 0.96)where S/Y = domestic savings ratio, S/N = per capita savings, Y/N = per capita income, D1 = percentage ofthe population under 15, D2 = percentage of the population over 64, and G = growth rate of per capitaincome. Are these results correct? Explain..
Consider a class with 80 enrolled students. None of the students were ill at the beginning of the school year. On August 30th, 10 students reported having a common cold. All continued to be ill on September 1st, but all 10 recovered within 3 days. On September 15th, 5 more students had a cold. All of these students continued to be ill on September 16th, but all recovered 5 days later. In this example, assume that a person cannot have a cold more than once.calculate the cumulative incidence of the common cold in the class during the month of september
Explain how the percentage of undernourished people can have decreased slightly between 2000–2002 and 2005–2007, while the absolute number of undernourished people increased slightly during the same period
Question 29 Suppose that in general the size of a student's class is related to the student's parents' annual income. Does this mean that parental income would be a good instrumental variable for class, size? Why or why not? Question 30 Now imagine our random sample of data is on students living in the Newcastle reeion of NSW. Unfortunately a major earthquake hits the Newcastle region early in the school year, Some Newcastle schools are forced to close for the rest of the school year to undertake repairs. Those closest to the earthquake epicentre are the most severely affected and are more likely to need to close for repairs. Some schools need to "double up" on the mumber of students in elasses to absorb those students whose schools have been closed for repairs. This temporarily increases class sizes at these schools. Conveniently for our study, the test score data is collected at the end of the school year in which the earthquake occured. Carefully explain in detail…
A statistics instructor asks each student in his classes to report how much the student spent on textbooks for the semester. The figures reported by students are shown below. 725 735 555 420 385 480 505 270 405 285 585 450 515 560 500 395 545 595 365 455 505 345 555 485 560 475 520 455 355 590 550 495 505 505 495 465 370 355 480 385 515 605 480 410 485 560 475 350 465 435 455 380 320 535 565 520 510 495 485 650 490 295 555 540 565 490 570 380 610 600 390 375 390 335 525 445 540 490 485 555 440 560 405 590 520 470 560 510 340 385 585 635 415 455 590 385 505 510 545 405 470 560 495 515 495 595 565 615 470 680 465 470 310 470 505 465 375 360 650 460 560 500 375 500 370 415 490 440 470 525 535 640 385 475 425 595 505 365 485 495 390 380 585 690 Treat the data above as POPULATION data. 1 The mean expenditure on textbooks by all students is: a $485.38 b $495.29 c $505.40 d $515.71
Explain what multicollinearity . What are the main problems that multicollinearity creates for OLS estimation results ? Give two ways to detect multicollinearity problem and the hypothesis that are tested ?
the last answer is a linear decline trend
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There has been coherent effort by various national agencies to educate and encourage reduction in energy consumption among Singapore household over the years. As part of your social science school project, you have chosen to research on whether such campaign has found success among households living in 1-room and 2-room HDB flats. You have downloaded the latest town gas consumption data for further analysis.Comment on the underlying pattern in the average quarterly household town gas consumptions over 2010 Q1 – 2021 Q2. Assume that today is 1st August 2021.
Describe the distinction between descriptive statistics and inferential statistics.
Exports of goods and services 1,872 Imports of goods and services 2,375 Net unilateral transfers -99 Net Investment Income 170 Capital Account -7 Net US acquisition of financial assets 958 Net US incurrence of liabilities 1,391 Net financial derivatives -14 Based on table above, the statistical discrepancy is Group of answer choices 15 8 0. -8 -15

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