are106_midterm-1-sample-answers

are106_midterm-1-sample-answers - ARE 106 Fall 2008 SAMPLE...

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ARE 106 Fall 2008 SAMPLE ANSWERS FOR MIDTERM 1 MEAGAN MORROW DAVIDKLlNG Disclaimer: These solutions were not provided by Dr. Havenner and do not represent an "official" answer key. 1.~: C,,-v'sot.\ WOv I cl '/00 ~VL~ t (,eV\{. .L. .. C GMJ ~ <" \;>-lC 0 ? IJ. -\<l b;\ Ii\'\ elL. .. + I U v V; I: Cj rd S -:: o Date: November 2, 2008,
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ARE 106 Fall 2008 2. solutions: a) E[jt')-= Elo{\"B~t:: + Ut::3 = t: [ot) \- t [(5).t1 \- t [LU::- j - d- t 13 '1--t -t 0 b ') \J rt.- < [ D t 1 ~ v Ovvr [ ()( + f3 ~ t + U- t- j - V fA Y [ d- ') + V (A.V' L fi 'i t ~ ~ V ~r- [ !At:. \ ~ CJ T ",0 -t 6'- Wh ~ '? t') b'J Cl~Svvy\ ph'o V) '3.3 -4 5...e.e hO\.e~ 0 V\ to - 3 -:s: -t 7 ~ hu SvfY) (!) -\ R 1 U\V~ Y\ uvYl '0 k'. ... 0+ S rna L { \' tf\e. .t~~(\~ nt -e vt:J'\~. Su Vlo\e~ tyOVV'l 10 ~ \0 -"'> s?€c; H-CAll i p\'o~ #- s '-111 D~v;~ -ex~!YJr\. .( 2
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ARE 106 Fall 2008 3. Note: The regression results provided by Dr. Havenner appeared on handout #1, available on the course website. 3.3. answer: I The data set is Hme seri". 3.b.~ The Gretl output provided on the exam paper suggests that the hypothesized model takes the form Yt = 0' + {JXt + Ut, with Ut rv N(O, (7"2), 1, . .. , T where Yt corresponds to the variable PATENTS !I!ld Xt corresponds to the variable R. D, both observed at time t. Using the output, we may write the results in standard format
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are106_midterm-1-sample-answers - ARE 106 Fall 2008 SAMPLE...

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