HW1_20170105_ToStudents - City University of Hong Kong...

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1 City University of Hong Kong EF3450 Principles of Econometrics Semester B 2016-2017 Dr. Isabel Yan Assignment 1 (Total: 46 points) Notes: 1. Due Feb 6 at the beginning of lecture 2. Write down your full name, student ID number, lecture time and tutorial time on your answer sheet 3. Please write down all your steps in deriving the answers 4. For the computer exercises, you do not need to print out all the computer output. You just need to report the results that are explicitly asked for in the questions Introduction to Econometric Model Multiple choice questions (1 point each): 1. Refer to the following econometric model: Q s = 1 + 2 P + e where Q s is annual quantity supplied, P is the price of the product. 2 is a.) the intercept coefficient b.) the slope coefficient c.) measures how Q s changes when P changes by one unit d.) measures how the expected value of Q s changes when P changes by one unit e.) both b and c. f.) both b and d. 2. Refer to the same econometric model as in question 1, Q s a.) refers to the actual observed values of the annual quantity supplied b.) refers to the expected values of the annual quantity supplied given the value of P c.) the variable that we would like to explain its behavior using the model d.) the variable that we use to explain the behavior of price P using the model e.) both a and c. f.) both b and c. g.) both a and d. h.) both b and d.
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