ECONOMETRICS: PS5 PROBLEM SET 5: ESTIMATION PROBLEMS 1 We have the following variables: Y: Food expenditure in USA. X: Family income. P: Price index. Two different regressions are estimated with the following estimation results (standard errors are in brackets): Coefficient for Regression X Y/P Y / X; P 0.112 (0.003) Coefficient for P 2.462 (0.407) -0.739 (0.114) Determination coefficient 0.614 0.978 Assuming that the true equation for Y includes both X and
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Real World Quadratic Functions Maximum profit. A chain store manager has been told by the main office that daily profit‚ P‚ is related to the number of clerks working that day‚ x‚ according to the function P = −25x2 + 300x. What number of clerks will maximize the profit‚ and what is the maximum possible profit? In order to find the point at which profit is maximized‚ I must find the critical points of the first derivative of the equation. Coefficient of x^2 is negative‚ so
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1 Quadratic Equations in One Unknown (I) Review Exercise 1 (p. 1.4) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. Let’s Discuss Let’s Discuss (p. 1.23) Angel’s method: Using the quadratic formula‚ Ken’s method: Using the quadratic formula‚ Let’s Discuss (p. 1.30) The solution obtained by using the factor method is the exact value of the root. However‚ the solution obtained
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Appropriate question about relationship between variables posed. I am interested in investigating if there is any (meaningful) relationship between the Girth of the chest in inches and the weight of the bear in pounds. I am using chest as my explanatory variable and weight as response variable. The data source is from Pennsylvania Game Commission. I will use the relationship (if any) to predict the weight for a chest girth of 60 inches. Scatterplot drawn with the explanatory and response
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Balancing Equations Balancing equations is a fundamental skill in Chemistry. Solving a system of linear equations is a fundamental skill in Algebra. Remarkably‚ these two field specialties are intrinsically and inherently linked. 2 + O2 ----> H2OA. This is not a difficult task and can easily be accomplished using some basic problem solving skills. In fact‚ what follows is a chemistry text’s explanation of the situation: Taken from: Chemistry Wilberham‚ Staley‚ Simpson‚ Matta Addison Wesley
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Working with algebra you must understand why the properties of real numbers are so important. I will demonstrate my solutions to three problems and I will include my mathematical work. Also I will use five vocabulary words that help me find solutions to the problems. Properties of real numbers are useful for simplifying algebraic expression because a lot of thing we do in life are equations. We use a lot of mathematical terms in the real world. Lastly I will show every step I took to simplify and
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Homework Sheet - Basic Algebra 1. John and Sarah are simplifying this expression. 3a + 8b + 7a – 6b John says the answer is 2a + 2b and Sarah says the answer is 10a + 14b. What is the correct answer? Sarah 2. Simplify these expressions. a) 4d + 6e – 2d – 3e = 2d-3e b) 12g – 3h – 8g + h = 4g-4h c) k + 2k + 3k – m – 2m – 3m = 6k-3m d) 7c + 4d – 10c + 5d = -3c+9d 3. Multiply out these brackets. a) 3(2a + 7) = 6a+21 b) 5(3x – 2y) = 15x-10 c) 2(4g2 – 3g) = 8g2-6
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Solving Proportions Jubenal Garcia MAT222: Intermediate Algebra (GSQ1433A) Instructor Linda Seeger August 19‚ 2014 Solving Proportions This week I learned about solving proportions. Rightfully so‚ on this assignment I have to prove or show what I’ve learned and retained by solving two problems. In this essay I will attempt to solve two problems from our textbook‚ the first one is problem 56 located on page 437 and the second one is problem 10 located on page 444 of our Elementary and Intermediate
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Review section 10.2 (p. 692) of your text. Describe two laws of exponents and provide an example illustrating each law. Explain how to simplify your expression. How do the laws work with rational exponents? Provide the class with a third expression to simplify that includes rational (fractional) exponents. The two laws of exponents are For any real number a and any rational exponents m and n: 1. In multiplying‚ we can add exponents if the bases are the same. 2. In dividing‚ we can subtract
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Newton’s Method: A Computer Project Newton’s Method is used to find the root of an equation provided that the function f[x] is equal to zero. Newton Method is an equation created before the days of calculators and was used to find approximate roots to numbers. The roots of the function are where the function crosses the x axis. The basic principle behind Newton’s Method is that the root can be found by subtracting the function divided by its derivative from the initial guess of the
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