are106-midterm-2

are106-midterm-2 - Econometrics Midterm II November 7 2008...

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Econometrics Midterm II November 7, 2008 ARE 106 Havenner Two questions on two pages, plus tables. Use 5% significance levels unless otherwise indicated. Closed book. Answer all questions. Bracketed values are points for the questions. The formulas below mayor may not be of use. For any random variables Y and Z: Cov(Y,Z) =E[Y -E(Y)] [Z -E(Z)] Corr(Y,Z) =Cov(Y,Z) / [-VVar(Y)-VVar(Z)] P (.2 - ttJ2,n -2 St ~ E (Z) ~.2 + t JJ2 ,n -2 St) = 1 - A where A is the statistical significance level R 2 = 1 _ ESS + (n - k) TSS + (n -1) (ESSR -ESS u ) +q F = -------=-- C ESS u + (n - k) Note that nand T both refer to the number of sample observations, and q,is the number of restrictions imposed. . 1. Data on the demand for bus travel and its determinants in the year 1988 for 40 cities across the U.S. produced the regressions reported below. The variables are defined as: BUSTRAVLMIL = Demand for urban tranportation by bus in millions of passenger hours FARE = Bus fare in dollars (Range 0.5 - 1.5) GASPRICE = Price of a gallon of gasoline, in dollars (Range 0.79 - 1.03) DENSITY = Density of city in persons/sq. mile (Range 1551 - 24288) LANDAREA = Land area of the city in sq. miles (Range 18.9 - 556.4)

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are106-midterm-2 - Econometrics Midterm II November 7 2008...

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