
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
expand_more
expand_more
format_list_bulleted
Question
Run the Multiple Linear Regression using Fatalities as the dependent
variable and Licensed drivers, registered vehicles, and GDP per capita as independent
variables. Submit Excel File
Calculate the following:
a- Interpret the R-square
b-Find the equation of the fitted line
c- Which variable has the strongest relationship with number of fatalities?
d- Identify which variables are significant/non-significant using alpha = 0.05?
variable and Licensed drivers, registered vehicles, and GDP per capita as independent
variables. Submit Excel File
Calculate the following:
a- Interpret the R-square
b-Find the equation of the fitted line
c- Which variable has the strongest relationship with number of fatalities?
d- Identify which variables are significant/non-significant using alpha = 0.05?
Fatalities | Licensed Drivers | Registered Vehicles | GDP per Capita (measured) |
953 | 3999057 | 5300199 | 40598 |
80 | 536033 | 803684 | 71996 |
1010 | 5284970 | 5806313 | 43464 |
516 | 2145334 | 2817145 | 38919 |
3563 | 27039400 | 31022328 | 68970 |
632 | 4244713 | 5356018 | 59885 |
294 | 2605612 | 2879802 | 68555 |
111 | 786504 | 1008468 | 64895 |
31 | 527731 | 351933 | 176498 |
3133 | 15368695 | 17496002 | 43423 |
1504 | 7168733 | 8512550 | 50288 |
117 | 948417 | 1267385 | 58185 |
231 | 1252535 | 1879670 | 40189 |
1031 | 8714788 | 10588910 | 60419 |
858 | 4589405 | 6190736 | 49209 |
318 | 2260271 | 3691892 | 54520 |
404 | 2149430 | 2684010 | 53094 |
724 | 3032530 | 4368285 | 41898 |
768 | 3425435 | 3885119 | 50938 |
137 | 1040582 | 1125588 | 42925 |
501 | 4407973 | 4204846 | 61042 |
360 | 4944666 | 5061499 | 73321 |
974 | 7153645 | 8380387 | 47072 |
381 | 3391057 | 5404277 | 59510 |
664 | 2058036 | 2067498 | 34434 |
921 | 4272960 | 5498675 | 46507 |
182 | 806204 | 1845338 | 43509 |
230 | 1420317 | 1961309 | 59178 |
330 | 1983453 | 2514338 | 49361 |
147 | 1161665 | 1346318 | 55905 |
564 | 6342876 | 6055389 | 62385 |
391 | 1458433 | 1824217 | 44671 |
943 | 12194360 | 11482229 | 73463 |
1437 | 7509231 | 8210213 | 47896 |
105 | 561333 | 899953 | 69563 |
1068 | 8032665 | 10913773 | 51790 |
655 | 2504253 | 3699022 | 49840 |
506 | 2930702 | 3942875 | 51677 |
1190 | 8991370 | 10727715 | 55580 |
59 | 756966 | 872344 |
50718
|
1037 | 3846069 | 4457519 | 40755 |
130 | 638428 | 1269415 | 52696 |
1041 | 5422429 | 5770874 | 47810 |
3642 | 17370383 | 22186241 | 59674 |
260 | 2030644 | 2372800 | 50236 |
68 | 564892 | 619694 | 47502 |
820 | 5929031 | 7604646 | 56002 |
546 | 5909967 | 7152413 | 67901 |
294 | 1136774.765 | 1693719 | 39584 |
588 | 4288171 | 5683061 | 51883 |
111 | 419256 | 837024 | 65843 |
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 6 steps with 2 images

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Similar questions
- Please answerarrow_forwardAn analyst working for your firm provided an estimated log-linear demand function based on the natural logarithm of the quantity sold, price, and the average income of consumers. Results are summarized in the following table: SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations ANOVA Regression Residual Total Intercept LN Price LN Income df 0.968 0.937 0.933 0.003 30 SS MS F 2 0.003637484 0.001818742 202.48598 0.000242516 8.98206E-06 27 29 0.00388 Coefficients Standard Error 0.57 0.00 0.13 0.51 -0.08 0.15 t Stat 0.90 -19.50 1.13 P-value 0.37 0.00 0.27 Significance F 5.55598E-17 Lower 95% -0.65 -0.09 -0.12 How would a 4 percent increase in income impact the demand for your product? Demand would increase by 60 percent. Demand would increase by 0.6 percent. Demand would decrease by 60 percent. Demand would decrease by 0.6 percent. Upper 95% 1.68 -0.07 0.41arrow_forwardPlease provide me with the correct answer, along with the calculations, and do not use any AI toolsarrow_forward
- QUESTION 10 Answer questions 10 to 16 based on the regression outputs given in Table 1& 2. Table 1 DATA4-1: Data on single family homes in University City community of San Diego, in 1990. price - sale price in thousands of dollars (Range 199. 9 505) sqft - square feet of living area (Range 1065 - 3000) Table 2 Model 1: OLS, using observations 1-14 Dependent variable: price coefficient std. error t-ratio p-value 52. 3509 0.138750 37. 2855 0.0187329 0. 1857 8. 20e-06 *** const sqft 7. 407 Me dependent var Sun squared resid R-squared F(1, 12) Log-likelihood Schwarz criterion 317. 4929 18273. 57 0. 820522 54. 86051 -70. 08421 145. 4465 Hannan-Quinn S.D. dependent var S.E. of regression Adjusted R-squared P-value (F) Akaike criterion 88. 49816 39. 02304 0. 805565 8. 20e-06 144. 1684 144. 0501 There are observations included in this dataset. It is a. data. O 12; cross-sectional 13; time-series data 14; cross-sectional In this regression model, sale price of a single-family house is the. the…arrow_forwardThe data for this question is given in the file 1.Q1.xlsx(see image) and it refers to data for some cities X1 = total overall reported crime rate per 1 million residents X3 = annual police funding in $/resident X7 = % of people 25 years+ with at least 4 years of college (a) Estimate a regression with X1 as the dependent variable and X3 and X7 as the independent variables. (b) Will additional education help to reduce total overall crime (lead to a statistically significant reduction in crime)? Please explain. (c) Will an increase in funding for the police departments help reduce total overall crime (lead to a statistically significant reduction in total overall crime)? Please explain. (d) If you were asked to recommend a policy to reduce crime, then, based only on the above regression results, would you choose to invest in education (local schools) or in additional funding for the police? Please explain.arrow_forward6 9 13 Yi 7 18 9. 26 23 a. Which of the following scatter diagrams accurately represents the data? A. 24+ 24+ 20- 20- 16+ 16+ 12+ 12+ 8+ 8+ 4- -4 4 12 16 24 28 x -4 4 8. 12 16 20 24 28 x -4t -4t С. D. 24 -----24+ 20- 20- 16- 16- 20 B. 20 00 00 O.arrow_forward
- You are given information on the use of public transportation in the data set within the image. Number of weekly riders y -variable Price per week (of using public transportation) x-variable Population of city x-variable Monthly income of riders x variable Average parking rates per month x-variable (a) Run a regression of the Number of weekly riders on Price per week, Population of city, Monthly income of riders, Average parking rates per month. Please copy and paste your regression results and do not submit your EXCEL worksheet. (b) If the average parking rates increase by $1, what will be the change in the number of weekly riders? Will this change be a statistically significant change? Please explain. (c) If the price per week (of using public transportation) increases by $1, what will be the change in the number of weekly riders? Will this change be…arrow_forwardIn the model Y = Bo +B 1X 1 + B 2X 2 + 8, which of these parameters represents a coefficient of an independent variable? the Y the X1 the B1 the earrow_forwardExplain the OLS Estimator in Multiple Regression in detail?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSONEngineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
- Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage LearningManagerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage LearningManagerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education


Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON

Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON

Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning

Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning

Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education