Midterm_321_2008

Midterm_321_2008 - Econ 321 Mid-Term February 27th, 2008,...

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1 Econ 321 Mid-Term February 27 th , 2008, 2:30-3:50 Student ID number________________________________ Instructions: *Write your name on top of page 14 or 15. *You can use the other side of the page to complete your answers. *Problems should be answered as completely as possible. Partial credit on problems is only possible if I can locate errors in your calculations *Neatness and organization of your answers is essential Question 1 (20 pts) Question 2 (40 pts) Question 3 (40 points)
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2 Question 1: Equation, Equation, Equation (20 pts) a) Which of these equations is it possible to estimate using regression techniques? For those for which it is possible, explain what needs to be done to make it possible and write out the equation which will be estimated. For those for which it is not possible, explain why it is not possible Equation (1) Y i = β 0 + β 1 X 1i + β 2 X 2i + i Equation (2) Equation (3) Equation (4)
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3 b) Why do we have an term in those equations?
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4 Question 2: Stay awake! (40 pts) Suppose we estimate the equation sleep = 3,638.25 0.148 totwrk 11.13 educ + 2.20 age (112.28) (0.017) (5.88) (1.45) n=706, R 2 =0.113 where the standard errors are reported in parenthesis under the associated estimates. Sleep is total minutes per week spent sleeping at night, totwrk is total weekly minutes spent working,
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Midterm_321_2008 - Econ 321 Mid-Term February 27th, 2008,...

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