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Econ 302 HW1 sol spring 2008

# Econ 302 HW1 sol spring 2008 - b Called the slope It is the...

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Solutions 1. a) 16.6733 y = b) s=1.4521 c) Since (14) (.005) 2.977 t = , the interval is 1.4621(2.977) 16.6733 15 . =(15.5494, 17.7972) d) : 18 : 18 o a H H μ μ = < e) 16.6733 18 3.5143 1.4621/ 15 T - = = - f) (14) (.05) 1.761 t - = - . Reject o H . g) p-value<.005 h) : 18 : 18 o a H H μ μ = i) (14) (14) (.1/ 2) (.05) 1.761 t t = = . Reject o H . j) p-value<.005(2)=.01 2) a) p.11 b) p.4 c) p.6 3. a) population mean of personal expenditures when GDP is \$4000 billion.
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Unformatted text preview: b) Called the slope. It is the change in | y x associated with a one unit increase in x. c) Called the intercept. It is the population mean of y when x=0; that is, |0 y . d) Use the formulas on page 88. e) 2(.7064)= \$1.4128 billion. f) g) -184.078+.7064(4700)=\$3136.002 billion...
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