Describe what panel data is and the reasons for using it
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- Describe what panel data is and the reasons for using it
- Assess the importance of fixed and random effects
- What is the Hausman Test? Explain its relevance.
- Explain when fixed effects, random effects or pooled OLS models are usually used.
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- The owner of a restaurant in Bloomington, Indiana, has recorded sales data for the past 19 years. He has also recorded data on potentially relevant variables. The data are listed in the file P13_17.xlsx. a. Estimate a simple regression equation involving annual sales (the dependent variable) and the size of the population residing within 10 miles of the restaurant (the explanatory variable). Interpret R-square for this regression. b. Add another explanatory variableannual advertising expendituresto the regression equation in part a. Estimate and interpret this expanded equation. How does the R-square value for this multiple regression equation compare to that of the simple regression equation estimated in part a? Explain any difference between the two R-square values. How can you use the adjusted R-squares for a comparison of the two equations? c. Add one more explanatory variable to the multiple regression equation estimated in part b. In particular, estimate and interpret the coefficients of a multiple regression equation that includes the previous years advertising expenditure. How does the inclusion of this third explanatory variable affect the R-square, compared to the corresponding values for the equation of part b? Explain any changes in this value. What does the adjusted R-square for the new equation tell you?8. assignment variable at which the treatment status does NOT change In Regression Discontinuity framework, the cutoff is defined as the level of the True False 9. What regression equation do we use for regression discontinuity framework? a) Y = Bo + B1 T + B2Xu+ Ei b) Y = Bo + B,T+ B2C + ei c) Y, = Bo + B, T+ B2 (Xi-C) + ei d) Y, = Bo + B1T + B2 (Xu + C) + € 10. Regression Discontinuity Design accomplices apples-to-apples comparison by comparing individuals as far from the cutoff as possible. True FalseWhat are the various Assumptions of Distributed Lag regression Model? Explain in detail?
- What are similarities of Interrupted Time Series and Regression Discontinuity? What are some differences?Athlete ages A sports reporter suggests that professional baseball players must, on average, be older than profes-sional football players, since football is a contact sport and players are more susceptible to concussions and seri-ous injuries (www.sports.yahoo.com). One player was selected at random from each team in both professionalbaseball (MLB) and professional football (NFL). Thedata are summarized below.To perform inference on these two samples, what condi-tions must be met? Are they? Explain. MLB NFLn 30 32y 27.5 26.16s 3.94 2.78Which best describes the null hypothesis associated with an Analysis of Variance (ANOVA)? Group of answer choices a. Ho: Variance 1 = Variance 2 = Variance 3 b. Ho: Standard Deviation 1 = Standard Deviation 2 = Standard Deviation 3 c. Ho: Proportion 1 = Proportion 2 = Proportion 3 d. Ho: Median 1 = Median 2 = Median 3 e. Ho: Mean 1 = Mean 2 = Mean 3
- Accountants at the Tucson firm, Larry Youdelman,CPAs, believed that several traveling executives were submittingunusually high travel vouchers when they returned from businesstrips. First, they took a sample of 200 vo uchers submitted fromthe past year. Then they developed the following multiple regressionequation relating expected travel cost to number of days onthe road (x1) and distance traveled (x2) in miles:y = $90.00 + $48.50x1 + $.40x2The coefficient of correlation computed was .68.a) If Barba ra Downey returns from a 300-miJe trip that took herout of town for 5 days, what is the expected amount she shouldclaim as expenses?b) Downey submitted a reimbursement request for $685. Whatshould the accountant do?c) Should any other variables be included? Which ones? Why?A company that sells and services car music systems has surveyed residents of the local area surrounding the store as a way to expand their business. They handed out cards at a busy intersection near the store over a two-weekend time period. After a month, they have received 200 responses out of 950 they distributed. The results of this survey will likely be ineffective because a handing out postcards is not a legitimate survey method handing out postcards is not a legitimate survey method b the sample of people may not be the store’s appropriate target the sample of people may not be the store’s appropriate target c not enough people responded not enough people responded D participants did not get a reward for respondingA sample of twenty automobiles was taken, and the miles per gallon (MPG), horsepower, and total weight were recorded. Develop a linear regression model to predict MPG using horsepower as the only indepen- dent variable. Develop another model with weight as the independent variable. Which of these two models is better? Explain. MPG 44 44 40 37 37 34 35 32 30 28 26 26 25 22 20 21 18 18 16 16 4 HORSEPOWER 67 50 62 69 66 63 90 99 63 91 94 88 124 97 114 102 114 142 153 139 WEIGHT 1,844 1,998 1,752 1,980 1,797 2,199 2,404 2,611 3,236 2,606 2,580 2,507 2,922 2,434 3,248 2,812 3,382 3,197 4,380 4,036
- A survey of 40 retail store reported the following amount of sales (in thousand) held in the month of September. Number of Sales Frequency 10-14 3 15-19 5 20-24 12 25-29 9 30-34 8 35-39 3 What is the standard deviation? What is the sample variance?You want to provide an overview of the characteristics of the respondents in your sample. Which of the following would you use to provide insight in the age of your respondents? a. A frequency table and a bar chart b. The mode, median and the standard deviation c. The mean and the variance. d. The mean, the median, and the mode#8 A cracker manufacturer wants to know how a new cracker she wants to make compares to the competition, so she has people in a sample of supermarkets across the country ask people to compare three crackers: one of her crackers and two competing crackers. This is an example of what kind of statistical study? Experiment Survey Observational Study