are106-homework-3-key

are106-homework-3-key - AK ARE 1 06 h omework 3 1 d...

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AK ARE 106 homework 3 1. data/read for specific details: DATA3-2: Aggregate personal income and expenditures on health care, both measured in billions of dollars, 1993, for U.S. States and D.C. Source: exph1th 1995 Statistical Abstrqct of the U.S. Personal Health Care ~penditures, Table 153, Page Ill, Range 0.998 - 94.178. income Personal Income, Table 712, Page 460, Range 9.3 - 64.1. a . This data is cross sec on data. The data is measured in billions of dollars at a given not overtime like time series would be. Summary statistics, using the observations 1 - 51 for the variable 'exphlth' (51 valid observations) Mean Median Minimum Maximum Standard deviation C.V. Skewness Ex . kurtosis 15.265 10.066 0.99800 94.178 17 . 888 1.1718 2.4497 6.8380 The mean for the health care expenditures is 15.265 billions of dollars and the standard deviation is 17.888 billions of dollars . Summary statistics, using the observations 1 - 51 for the variable 'income' (51 valid observations) Mean Median Minimum Maximum Standard deviation C.V. Skewness Ex . kurtosis 105.13 64.100 9.3000 683.50 125.30 1.1918 2.5931 8.0094 The mean for income is 105.13 billions of dollars and the standard deviation is 125.30 billions of dollars. b. Modell: OLS, using observations 1-51 Dependent variable: exphlth coefficient std. error const 15.2649 2.50478 6.094 t-ratio p-va1ue 1.56e - 07 *** Mean dependent var 15.26494 S.D. dependent var 17.88771
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Sum squared resid R-squared Log-likelihood Schwarz criterion 15998.52 S.E. of regression 17.88771 0.000000 Adjusted R-squared 0.000000 -218.9507 Akaike criterion 439.9014 441.8333
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