Homework Help is Here – Start Your Trial Now!
Math
Advanced Math
Data on 220 reported crimes is collected from district X in 2016. Suppose CS denotes the total cost to the state of offering crime protection services to this district (in thousand dollars), LEOP denotes the number of law enforcement officers on patrol, DTP denotes the damage to public and private property (in thousand dollars), CCTV denotes the number of CCTV cameras installed in the district, and Prison denotes the number of prison inmates. The following table shows the results of a few regressions of the total cost to the state. Dependent variable: total cost to the state (in thousand dollars) Regressor LEOP DTP (1) 12.32 (2) 17.99 (3) 14.55 (4) 18.1 (0.52) (0.84) (2.25) (0.82) 0.73 0.59 (0.06) (0.12) 0.75 (0.04) CCTV 2.12 Prison (0.5) 0.73 (0.13) 2.11 (0.39) 182.5 191.6 219.95 288.5 Intercept (11.52) (6.68) (5.26) (4.14) =2 0.12 0.75 0.64 R n 220 220 220 0.75 220 Heteroskedasticity-robust standard errors are given in parentheses under coefficients. Which of the following statements correctly describe the reasons behind the differences observed in the coefficients in the given specifications? (Check all that apply.) A. The value of R² in the 1st specification suggests that the number of law enforcement officers on patrol alone explains a large fraction of the variation in total cost to the state. B. The number of CCTV cameras installed in the district appears to be redundant. As reported in regression (4), adding it to regression (2) has a negligible effect on the estimated coefficients on LEOP and DTP or their standard errors. C. th According to the 4 specification, reducing the number of law enforcement officers on patrol by one officer is estimated to decrease total cost to the state by approximately $18.10, holding constant other factors. D. The significant rise in the coefficient on LEOP from the 1st specification to the 4th shows the presence of omitted variable bias in the 1st specification.

Data on 220 reported crimes is collected from district X in 2016. Suppose CS denotes the total cost to the state of offering crime protection services to this district (in thousand dollars), LEOP denotes the number of law enforcement officers on patrol, DTP denotes the damage to public and private property (in thousand dollars), CCTV denotes the number of CCTV cameras installed in the district, and Prison denotes the number of prison inmates. The following table shows the results of a few regressions of the total cost to the state. Dependent variable: total cost to the state (in thousand dollars) Regressor LEOP DTP (1) 12.32 (2) 17.99 (3) 14.55 (4) 18.1 (0.52) (0.84) (2.25) (0.82) 0.73 0.59 (0.06) (0.12) 0.75 (0.04) CCTV 2.12 Prison (0.5) 0.73 (0.13) 2.11 (0.39) 182.5 191.6 219.95 288.5 Intercept (11.52) (6.68) (5.26) (4.14) =2 0.12 0.75 0.64 R n 220 220 220 0.75 220 Heteroskedasticity-robust standard errors are given in parentheses under coefficients. Which of the following statements correctly describe the reasons behind the differences observed in the coefficients in the given specifications? (Check all that apply.) A. The value of R² in the 1st specification suggests that the number of law enforcement officers on patrol alone explains a large fraction of the variation in total cost to the state. B. The number of CCTV cameras installed in the district appears to be redundant. As reported in regression (4), adding it to regression (2) has a negligible effect on the estimated coefficients on LEOP and DTP or their standard errors. C. th According to the 4 specification, reducing the number of law enforcement officers on patrol by one officer is estimated to decrease total cost to the state by approximately $18.10, holding constant other factors. D. The significant rise in the coefficient on LEOP from the 1st specification to the 4th shows the presence of omitted variable bias in the 1st specification.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 24PPS
See similar textbooks
icon
Related questions
Question

please answer correctly:

Data on 220 reported crimes is collected from district X in 2016. Suppose CS denotes the total cost to the state of offering crime protection services to this district (in thousand dollars), LEOP denotes the number of law enforcement officers on patrol, DTP denotes the damage to public and private property (in thousand dollars), CCTV denotes the number of CCTV cameras installed in the district, and Prison denotes the number of prison inmates. The following table shows the results of a few regressions of the total cost to the state. Dependent variable: total cost to the state (in thousand dollars) Regressor LEOP DTP (1) 12.32 (2) 17.99 (3) 14.55 (4) 18.1 (0.52) (0.84) (2.25) (0.82) 0.73 0.59 (0.06) (0.12) 0.75 (0.04) CCTV 2.12 Prison (0.5) 0.73 (0.13) 2.11 (0.39) 182.5 191.6 219.95 288.5 Intercept (11.52) (6.68) (5.26) (4.14) =2 0.12 0.75 0.64 R n 220 220 220 0.75 220 Heteroskedasticity-robust standard errors are given in parentheses under coefficients. Which of the following statements correctly describe the reasons behind the differences observed in the coefficients in the given specifications? (Check all that apply.) A. The value of R² in the 1st specification suggests that the number of law enforcement officers on patrol alone explains a large fraction of the variation in total cost to the state. B. The number of CCTV cameras installed in the district appears to be redundant. As reported in regression (4), adding it to regression (2) has a negligible effect on the estimated coefficients on LEOP and DTP or their standard errors. C. th According to the 4 specification, reducing the number of law enforcement officers on patrol by one officer is estimated to decrease total cost to the state by approximately $18.10, holding constant other factors. D. The significant rise in the coefficient on LEOP from the 1st specification to the 4th shows the presence of omitted variable bias in the 1st specification.
Transcribed Image Text:Data on 220 reported crimes is collected from district X in 2016. Suppose CS denotes the total cost to the state of offering crime protection services to this district (in thousand dollars), LEOP denotes the number of law enforcement officers on patrol, DTP denotes the damage to public and private property (in thousand dollars), CCTV denotes the number of CCTV cameras installed in the district, and Prison denotes the number of prison inmates. The following table shows the results of a few regressions of the total cost to the state. Dependent variable: total cost to the state (in thousand dollars) Regressor LEOP DTP (1) 12.32 (2) 17.99 (3) 14.55 (4) 18.1 (0.52) (0.84) (2.25) (0.82) 0.73 0.59 (0.06) (0.12) 0.75 (0.04) CCTV 2.12 Prison (0.5) 0.73 (0.13) 2.11 (0.39) 182.5 191.6 219.95 288.5 Intercept (11.52) (6.68) (5.26) (4.14) =2 0.12 0.75 0.64 R n 220 220 220 0.75 220 Heteroskedasticity-robust standard errors are given in parentheses under coefficients. Which of the following statements correctly describe the reasons behind the differences observed in the coefficients in the given specifications? (Check all that apply.) A. The value of R² in the 1st specification suggests that the number of law enforcement officers on patrol alone explains a large fraction of the variation in total cost to the state. B. The number of CCTV cameras installed in the district appears to be redundant. As reported in regression (4), adding it to regression (2) has a negligible effect on the estimated coefficients on LEOP and DTP or their standard errors. C. th According to the 4 specification, reducing the number of law enforcement officers on patrol by one officer is estimated to decrease total cost to the state by approximately $18.10, holding constant other factors. D. The significant rise in the coefficient on LEOP from the 1st specification to the 4th shows the presence of omitted variable bias in the 1st specification.
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
SEE MORE TEXTBOOKS