15. While working with the sales manager of your firm you have estimated the following model of sales volume as a function of monthly household income:ln(I)*1.2123.418ln(Q) (0.781) (0.392)Where Q is monthly sales volume, I is monthly household income in thousands, and standard errors are listed below the parameter estimates.What does the model predict sales volume to be if using the corrected predictor when income is $4000 per month?a.) 708,133.68b.) 723,146.11c.) 163.73d.) 167.20Ans: dLevel: DifficultSection: 4.616. What hypothesis is tested when using the Jarque-Berra test ?Short Answer
1. When the residuals from a simple regression model appear to be correlated with x, this is known as_______________________________.Ans: HeteroskedasticityLevel: EasySection: 4.32. If a scatter plot of the data reveals an inverted U shape, what data transformation would allow it to be estimated with simple linear regression?3. A measure of the symmetry of a distribution is ________________________.Ans: SkewnessLevel: ModerateSection: 4.34. What is the skewness of the normal distribution?Level: EasySection: 4.35. What about the distribution of a random variable does kurtosis measure?Ans: The peakednessLevel: ModerateSection: 4.36. What is the kurtosis measure of the normal distribution?
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- Winter '07
- Econometrics, regression model