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how does freidman reconcile the the apperent inconsistency between short term and long term empirical evidence
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- Consider the following TSLS model, where Ability is an endogenous independent variable, while Educand Age are exogenous.Stage 1 : Ability = 0 + 1 Educ + 2 Age + 3 Expr + 4 ParEduc + 5 KWW + VStage 2 : log(Wage) = 0 + 1 Educ + 2 Age + 2 Ability + UIf we use the Sargan test, the rst-stage F test and the Hausman test together to decide whether aTSLS or an OLS would be more appropriate, ll in the following blanks: at the 5% signicance level, the critical value for the Sargan test is blank, and the critical value forthe Hausman test is blank; if we blank (reject or fail to reject) the Sargan test, blank (reject or fail to reject) the rst-stageF test, and blank (reject or fail to reject) the Hausman test, then it is implied that we shall use theTSLS instead of the OLS estimation.Q1. State the property of an estimator that gives a correct estimate of the population parameter of interest, but only on average. Q2. State the property of ian estimal or thal converges to the populalion paaameter of interest as the sample size goes to infinity. Q3. Why is an efficient estimator a desirable property of the OLS estimator? Q4. Stare the assumption(s)under the classical linearregression model giving rise to a biased standard error of the coefficient estimates when violated.This is the ultility function of the Overlapping genrations model. The question is what does alpha stand for ?
- The results of Crum and Langer's hotel experiment: Select one: a. were contradicted by the results of correlational research based on a student survey about health, diet, and exercise and personality measures. b. were discounted because the evidence was purely correlational. c. had little impact because the statistical analysis was flawed. d. provided additional support for the idea that people's beliefs and expectations can have a powerful influence.States (and provinces) that have control over taxation sometimes reduce taxes in an attempt to spur economic growth. Suppose that you are hired by a state to estimate the effect of corporate tax rates on, say, the growth in per capita gross state product (GSP).(i) What kind of data would you need to collect to undertake a statistical analysis?(ii) Is it feasible to do a controlled experiment? What would be required?(iii) Is a correlation analysis between GSP growth and tax rates likely to be convincing? Explain.Can question B be further explained? There is already an answer on Bartleby but I am unsure how the expert arrived at that answer.
- Researchers conducted a prospective cohort study to assess the association between dietary supplements and cognitive ability among children. A total of 500 children age 12-17 years who take an omega-3 fatty acid supplement are compared with 500 children age 12-17 years who do not take an omega-3 fatty acid supplement. Researchers follow the children for 2 years. During this time, 300 children who take the supplement earn what is classified as a “high” score on a cognitive test while 200 children who do not take the supplement earn what is classified as a “high” score on the same cognitive test. Show calculations. a) Construct a 2x2 table from the information presented above b) The risk difference is:Even if heteroscedaticity is suspected and detected, it is not easy to correct the problem. This statement is Select one: True Depends on test statistics Sometimes true False if the residuals from a regression estimated using a small sample of data are not normally distributed, which one of the following consequences may arise? Select one: The coefficient estimate will be biased inconsistent The coefficient estimate will be biased consistent Test statistics concerning the parameter will not follow their assumed distributions The coefficient estimate will be unbiased inconsistent males vs female young vs adult married vs unmarried urban resident vs suburban good credit score vs poor credit score The coefficient of determination, r squared shows Select one: Proportion on the variation in the dependent variable error term is explained by the independent variable X Proportion of the variation in the dependent variable X is explained by the error term Proportion of the…ASAP Use the data in WAGE2.RAW for this exercise.(i) Consider the standard wage equationlog(wage) 5 b0 1 b1educ 1 b2exper 1 b3tenure 1 u.State the null hypothesis that another year of general workforce experience has the same effect on log(wage) as another year of tenure with the current employer.(ii) Test the null hypothesis in part (i) against a two-sided alternative, at the 5% significance level, by constructing a 95% confidence interval. What do you conclude?
- Why does a confidence interval contain more information than the resultof a single hypothesis test?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 ?Pls solve both , with no plagiarism