{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Final Exam 1999

# Final Exam 1999 - of the error terms what do we know about...

This preview shows pages 1–2. Sign up to view the full content.

Statistics for Food and Resource Economics Final 1999 Attached is a table of corn yields and nitrogen, phosphorous and potash applied for acres of production in Illinois. 1. Compute the ordinary least squares estimates for the linear production function of corn as a function of each nutrient: i i i i K P N y 3 2 1 0 α α α α + + + = where y i is the corn yield in bushels per acre, N i is the nitrogen applied in pounds per acre, P i is the phosphorous applied in pounds per acre, and K i is the potash applied in pounds per acre. 2. Compute the variance matrix for each parameter assuming small sample properties. What assumptions are necessary to compute test statistics for the regression coefficients? What is the appropriate test for α 2 =0? 3. What is the relationship between ordinary least squares and maximum likelihood in linear models? How are the appropriate test statistics for maximum likelihood derived (in theory you don’t have to do them)? Are these statistics appropriate in small sample? 4. In the absence of specific distributional assumptions (such as normality

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: of the error terms) what do we know about the efficiency of ordinary least squares? Nitrogen (lbs./acre) Phosphorous (lbs./acre) Potash (lbs./acre) Corn (bu./acre) 127.00 60.00 90.00 140.00 202.00 104.00 120.00 110.00 88.00 24.00 90.00 61.00 150.00 69.00 120.00 138.00 200.00 0.00 0.00 150.00 153.30 52.60 126.60 102.00 139.00 35.00 90.00 160.00 150.00 60.00 120.00 115.00 160.00 40.00 50.00 165.00 180.00 37.00 120.00 140.00 160.00 30.00 60.00 135.00 182.70 76.80 127.70 160.00 154.00 60.00 80.00 151.10 196.00 92.00 90.00 143.10 172.30 57.50 120.00 154.18 227.08 69.00 60.00 155.00 147.00 69.00 150.00 45.70 165.84 72.00 160.00 115.00 104.50 57.50 21.00 115.00 71.80 69.00 90.00 105.00 101.64 0.00 0.00 100.00 203.00 46.00 150.00 129.00 125.40 69.00 90.00 160.00 180.00 0.00 0.00 115.00 175.00 80.00 80.00 120.00 167.40 50.60 48.00 167.90 214.00 138.00 180.00 150.00 200.00 0.00 200.00 165.00 195.00 104.00 135.00 149.00 199.00 0.00 0.00 143.00...
View Full Document

{[ snackBarMessage ]}

### What students are saying

• As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

Kiran Temple University Fox School of Business ‘17, Course Hero Intern

• I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

Dana University of Pennsylvania ‘17, Course Hero Intern

• The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

Jill Tulane University ‘16, Course Hero Intern