In the least-squares line y -5+ 3x, what is the marginal change in y for each unit change in x?
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In the least-squares line ŷ = 5 + 3x, what is the marginal change in ŷ for each unit change in x?
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- Consider the following screening test for cancer applied to 100,000 people of whom 100 have cancer. Each test costs $6.50, picks up 75% of cancer cases., and additionally, 12% of the time, falsely diagnoses cancer. Detection of cancer (rightly or wrongly) leads to a further exact diagnostic test that costs $100. Correct early detection of cancer by the test is valued at $10,000 What is the marginal benefit of doing the test? What are the marginal costs of doing the test?In the least-squares line = 5 + 2x, what is the marginal change in for each unit change in x?In the least-squares line ŷ = 5 + 6x, what is the marginal change in ŷ for each unit change in x?
- Determine the best (according to sum-of-squares-measure) curve y = Aebx, through the dataabove.Transformed equationln(y) = ln(A) + bxorY = a + bx.Suppose we estimate the following model with OLS: Which of the following statements is always true: OLS chooses and which minimize the sum of squared residuals. OLS chooses and which minimize the sum of residuals. OLS chooses and so that is an unbiased estimator of . OLS chooses and so that it captures the functional form of the relationship between x and y.In the least-squares line ŷ = 5 − 3x, what is the value of the slope? In the least-squares line ŷ = 5 + 9x, what is the marginal change in ŷ for each unit change in x?
- Records for the last 15 years have shown that the average rainfall in a certain region of the country, for the month of March, to be 1.20 inches, with s = 0.45 inches. A second region had an average rainfall of 1.35 inches, with s = 0.54. estimate the difference of the true average rainfalls in those two regions as a 95% C.I. with the assumption of normal populations and unequal variances.(a) Compute the least-squares regression line for predicting U.S, emissions from non-U.S. emissions. Round the slope and y-intercept values to four decimal places.The specification for the pull strength of a wire that connects an integrated circuit to its frame is 10 g or more. Units made with aluminum wire have a defect rate of 10%. A redesigned manufacturing process, involving the use of gold wire, is being investigated. The goal is to reduce the rate of defects to 5% or less. Out of the first 100 units manufactured with gold wire, only 4 are defective. True or false: a) Since only 4% of the 100 units were defective, we can conclude that the goal has been reached. b) Although the sample percentage is under 5%, this may represent sampling variation, so the goal may not yet be reached. c) There is no use in testing the new process, because no matter what the result is, it could just be due to sampling variation. d) If we sample a large enough number of units, and if the percentage of defective units is far enough below 5%, then it is reasonable to conclude that the goal has been reached.
- Determine the best (according to sum-of-squares-measure) curve y = Aebx , through the data above. Transformed equation ln(y) = ln(A) + bx or Y = a + bx.In a certain city, the daily consumption of electricpower in millions of kilowatt-hours can be treated as arandom variable having a gamma distribution with α = 3and β = 2. If the power plant of this city has a daily capacity of 12 million kilowatt-hours, what is the prob-ability that this power supply will be inadequate on any given day?Suppose that a researcher, using wage data on 200 randomly selected male workers and 240female workers, estimates the OLS regressionW age ˆ =10(0.2)+2(0.4)× M ale, R2 = 0.10, SER = 4,where Wage is measured in dollars per hour and Male is a binary variable that is equal to 1 if theperson is a male and 0 if the person is a female. Define the wage gender gap as the difference inmean earnings between men and women.1. What is the estimated gender gap?2. Is the estimated gender gap significantly different from 0? (Compute the p-value for testingthe null hypothesis that there is no gender gap.)13. Construct a 95% confidence interval for the gender gap.4. In the sample, what is the mean wage of women? Of men?5. Another researcher uses these same data but regresses Wages on Female, a variable that isequal to 1 if the person is female and 0 if the person a male. What are the regression estimatescalculated from this regression?W age ˆ = _ + _ × F emale, R2 = _, SER = _.