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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.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 We obtain the following results when we estimate Model (B1) using RE and FE methods: Variable Random Effects Fixed Effects retired -0.072*** (0.024) -0.054** (0.025) age -0.008*** (0.003) - married 0.031*** (0.010) 0.028 (0.022) health 0.050*** (0.021) 0.052***…If the annual rate of world oil consumption t years after 1970 is modeledby the equation R(t) = 16.1e^.07t (billions of barrels per year), how much total oil (net change) was used between 1976 and 1980?
- Explain the relationship that economic variables can have with businesscycles. These have both direction and timing. Give an example economicvariable of each combination of direction timing. Of these two attributes, ifyou had exclusive access to a reliable variable, which relationships wouldyou want this variable to have for forecasting purposesT. Haavelmo devised a model of the US economy for the years 1929–1941 based on the followingequations:(i) c = 0.712y + 95.05 (ii) s = 0.158(c + x) − 34.30(iii) y = c + x − s (iv) x = 93.53Here x denotes total investment, y is disposable income, s is the total saving by firms, and c istotal consumption. Write the system of equations in the form (1) when the variables appear inthe order x, y, s, and c. Then find the solution of the system.Q. Rubax, a U.S. manufacturer of athletic shoes, estimates the following linear trend model for show sales: Qt = a + bt + c1D1 + c2D2 + c3D3 Qt = sales of athletic shoes in the tth quarter t = 1, 2,..., 28 [2014(I), 2014(II),....,2020[IV)] D1 = 1 if t is quarter I (winter); 0 otherwiseD2 = 1 if t is quarter II (spring); 0 otherwiseD3 = 1 if t is quarter III (summer); 0 otherwise The regression analysis produces the following results: a. Is there sufficient statistical evidence of an upward trend in shoe sales? b. Do these data indicate a statistically significant seasonal pattern of sales of Rubax shoes? If so, what is the seasonal pattern exhibited by the data? c. Using the estimated forecast equation, forecast sales of Rubax shoes for 2021(III) and 2022(II). d. How might you improve this forecast equation? Thank you!
- We have estimated the impact of gross domestic product (GDP), energy consumption (ENERGY) and population (POP) on CO2 emiisions (CO2) in Cyprus. The results are as follows;Dependent Variable: CO2Method: Least SquaresDate: 04/20/17 Time: 09:46Sample: 1990 2013Included observations: 24 Write down the economic function for the above estimation by using the information obtained from above table b- Write down the economic model for the above estimation by using the information obtained from above table . c- Write down the econometric model for the above estimation by using the information obtained from above table d- Write down the least squares line by using the information obtained from above tablee- Explain what each coefficient of the least squares line indicatesConsider the model: yt = α0 + b0st + b1st-1 + b2st-2 + b3st-3 + ut. What is the effect of a permanent change in s on y?In the equation S = 130 – 2T, where S is hot chocolate sales and T is temperature, sales _____ if temperature increases by 10 degrees. A. increase by 20 B. decrease by 20 C. increase by 2 D. decrease by 2
- b. Is the World heading for a recession? Explain the conditions under which the world can be classified as being in a recession as COVID-19 persists. Explain linking the pandemic to the various stages of a recession.3. Rubax, a U.S. manufacturer of athletic shoes, estimates the following linear trend model for shoe sales: Qt = a+bt+c1D1+c2D2+c3D3Where, Qt = sales of athletic shoes in the t-th quartert = 1, 2, . . . . , 28 [2011(I), 2011(II), . . . . , 2017(IV)]D1 = 1 if t is quarter I (winter); 0 otherwiseD2 = 1 if t is quarter II (spring); 0 otherwiseD3 = 1 if t is quarter III (summer); 0 otherwiseThe regression analysis produces the following results: Is there sufficient statistical evidence of an upward trend in shoe sales? explain Do these data indicate a statistically significant seasonal pattern of sales for Rubax shoes? If so, what is the seasonal pattern exhibited by the data? Using the estimated forecast equation, forecast sales of Rubax shoes for 2018(III) and 2019(II).In the formula ke >= (D1/P0) + g, what does (D1/P0) represent?
