Statistics for Business and Economics
8th Edition
ISBN: 9780132745659
Author: Paul Newbold, William Carlson, Betty Thorne
Publisher: PEARSON
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Chapter 1.5, Problem 46E
To determine
Draw a scatter plot.
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We have estimated the impact of gross domestic product (GDP), energy consumption (ENERGY) and population
(POP) on CO2 emiisions (CO2) in Cyprus. The results are as follows,
Dependent Variable: CO2
Method: Least Squares
Date: 04/20/17 Time: 09.46
Sample: 1990 2013
Included observations: 24
Variable
Coefficient
Std. Error
t-Statistic
Prob.
GDP
ENERGY
POP
2.002813
0.022114
-0.734352
0.203927
6.458672
0.011872
0.328388
0.293686
0,310097
1.862670
-2.236233
0.694371
0.7597
0.0773
0,0369
0.4954
R-squared
Adjusted R-squared
S.E. of regression
Sum squared resid
Log likelihood
F-statistic
Prob(F-statistic)
0.825079 Mean dependentyar
0.798841
0.048515 Akaike info criterion
0.047074 Schwarz criterion
40.75460 Hannan-Quinn.criter.
31.44583 Durbin-Wats on stat
0.000000
3.625982
0.108170
-3.062883
-2.866541
-3.010793
1.410912
S.D. dependent yar
a Write down the economie function for the above estimation by using the information obtained from
above table|
b- Write down the economic model for the above…
We have estimated the impact of gross domestic product (GDP), energy consumption (ENERGY) and population (POP) on CO2 emiisions (CO2) in Cyprus. The results are as follows;Dependent Variable: CO2Method: Least SquaresDate: 04/20/17 Time: 09:46Sample: 1990 2013Included observations: 24
Write down the economic function for the above estimation by using the information obtained from above table b- Write down the economic model for the above estimation by using the information obtained from above table . c- Write down the econometric model for the above estimation by using the information obtained from above table d- Write down the least squares line by using the information obtained from above tablee- Explain what each coefficient of the least squares line indicates
All questions utilize the multivariate demand function for Smooth Sailing sailboats in C6 on text page 83. Compute to three decimal places.
Initial values are: PX = $9500 PY = $10000 I = $15000 A = $170000 W = 160
This function is: Qs = 89830 -40PS +20PX +15PY +2I +.001A +10W
1.(a). Use the above to calculate the arc price elasticity of demand between PS = $9000 decreasing to PS = $8000. The arc elasticity formula is:
1.(b). Judging from the computation in (a), do you expect the revenue resulting from the decrease in Ps to $8000 to increase, remain the same, or decrease relative to the revenue at Ps = $9000. (Hint: see the table on page 65 of Truett). Explain your choice.
1.(c). Calculate the point elasticity of demand for Smooth Sailing sailboats at PS = $9000 (which should make Qs = 101600). The formula is:
1.(d). Does this elasticity value indicate that Smooth Sailing demand is relatively responsive to changes in the price of these sailboats? Explain…
Chapter 1 Solutions
Statistics for Business and Economics
Ch. 1.2 - Prob. 1ECh. 1.2 - Prob. 2ECh. 1.2 - Prob. 3ECh. 1.2 - Prob. 4ECh. 1.2 - Prob. 5ECh. 1.2 - Prob. 6ECh. 1.2 - Prob. 7ECh. 1.2 - Prob. 8ECh. 1.3 - Prob. 9ECh. 1.3 - Prob. 10E
Ch. 1.3 - Prob. 11ECh. 1.3 - Prob. 12ECh. 1.3 - Prob. 13ECh. 1.3 - Prob. 14ECh. 1.3 - Prob. 15ECh. 1.3 - Prob. 16ECh. 1.3 - Prob. 17ECh. 1.3 - Prob. 18ECh. 1.3 - Prob. 19ECh. 1.4 - Prob. 20ECh. 1.4 - Prob. 21ECh. 1.4 - Prob. 22ECh. 1.4 - Prob. 23ECh. 1.4 - Prob. 24ECh. 1.4 - Prob. 25ECh. 1.4 - Prob. 26ECh. 1.4 - Prob. 27ECh. 1.4 - Prob. 28ECh. 1.4 - Prob. 29ECh. 1.5 - Prob. 30ECh. 1.5 - Prob. 31ECh. 1.5 - Prob. 32ECh. 1.5 - Prob. 33ECh. 1.5 - Prob. 34ECh. 1.5 - Prob. 35ECh. 1.5 - Prob. 36ECh. 1.5 - Prob. 37ECh. 1.5 - Prob. 38ECh. 1.5 - Prob. 39ECh. 1.5 - Prob. 40ECh. 1.5 - Prob. 41ECh. 1.5 - Prob. 42ECh. 1.5 - Prob. 43ECh. 1.5 - Prob. 44ECh. 1.5 - Sales revenue totals (in dollars) by day of the...Ch. 1.5 - Prob. 46ECh. 1.6 - Prob. 47ECh. 1.6 - Prob. 48ECh. 1.6 - Prob. 49ECh. 1.6 - Prob. 50ECh. 1 - Prob. 51ECh. 1 - Prob. 52ECh. 1 - Prob. 53ECh. 1 - Prob. 54ECh. 1 - Prob. 55ECh. 1 - Prob. 56ECh. 1 - Prob. 57ECh. 1 - Prob. 58ECh. 1 - Prob. 59ECh. 1 - Prob. 60ECh. 1 - Prob. 61ECh. 1 - Prob. 62ECh. 1 - Prob. 63ECh. 1 - Prob. 64ECh. 1 - Prob. 65ECh. 1 - Prob. 66ECh. 1 - Prob. 67ECh. 1 - Prob. 68ECh. 1 - Prob. 69ECh. 1 - Prob. 71ECh. 1 - Prob. 72ECh. 1 - Prob. 73ECh. 1 - Prob. 74E
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