exam03_answer_sp2005

exam03_answer_sp2005 - Economics 120B Professor Yongil Jeon...

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Economics 120B Name: _________________________ Professor Yongil Jeon June 8, 2005 Student ID#: _________________________ Answers to Exam 3: Econometrics B Econ 120b, Spring 2005 1. (10 points) Based on a sample of sixty-four observations, the following model was estimated by least squares: y = -16.528 + 28.729 x 1 +0.022 x 2 -0.023 x 3 -0.054 x 4 -0.077 x 5 +0.411 x 6 +0.349 x 7 +0.028 x 8 , R 2 =0.476 where y = index of direct labor efficiency in production plant x 1 = ratio of overtime hours to straight-time hours worked by all production workers x 2 = average number of hourly workers in the plant x 3 = percentage of employees involved in some quality-of-worklife program x 4 = number of grievances filed per 100 workers x 5 = disciplinary action rate x 6 = absenteeism rate for hourly workers x 7 = salaried workers’ attitudes, from low (dissatisfied) to high, as measured by questionnaire x 8 = percentage of hourly employees submitting at least one suggestion in a year to the plant’s suggestion program Also obtained by least squares from these data was the fitted model: y = 9.062 -10.944 x 1 -0.320 x 2 +0.019 x 3 , R 2 =0.325 The variables x 4, x 5, x 6, x 7, x 8 are measures of the performance of a plant’s industrial relations system. Test at the 1% level the null hypothesis that they contribute nothing to explaining direct labor efficiency, given that x 1 ,x 2 , x 3 are also to be used. Note that (9,64,0.01) 2.70 F = , (9,55,0.01) 2.75 F = , (4,64,0.01) 3.63 F = , (4,55,0.01) 3.68 F = . Answer ). 8 , 7 , 6 , 5 , 4 ( 0 : 0 : 1 8 7 6 5 4 0 = = = = = = i one least At H vs H i β Then, () 804 . 5 ) 1 8 64 /( 0.467 1 4 / 0.242 - 0.467 ) 1 /( 1 / 2 2 2 = = = k n R q R R F UR UR r
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2 Answers to EXAM #3, ECON 120B, Spring 2005 2 3.663< (4,55,0.01) 3.68 F = , therefore, fail to reject 0 : 8 7 6 5 4 0 = = = = = β H at the 1% significance level.
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3 Answers to EXAM #3, ECON 120B, Spring 2005 3 2. (20 points) An aircraft company wanted to predict the number of worker-hours necessary to finish the design of a new plane. Relevant explanatory variables were thought to be the plane’s top speed, its weight, and the number of parts it had in common with other models built by the company. A sample of twenty-seven of the company’s planes was taken, and the following model was estimated: y = β 0 + β 1 x 1 + β 2 x 2 + β 3 x 3 + ε where y = design effort, in millions of worker-hours x 1 = plane’s top speed, in Mach number x 2 = plane’s weight, in tons x 3 = percentage number of parts in common with other models The total sum of squares and the explained sum of squares were found to be SST= 3.881 and SSE = 3.549 (i) (5 points)
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This note was uploaded on 06/09/2010 for the course ECON 120B taught by Professor Jeon during the Spring '08 term at UCSD.

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exam03_answer_sp2005 - Economics 120B Professor Yongil Jeon...

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