Exam 4: Estimating Demand Functions

The annual mean daily high and low temperatures by selected cities are given in the following table.If the mean low temperature is 1 degree higher in Tupelo than in Tucumcari,what do you estimate the difference in mean high temperatures will be?

If an analyst were confident that all factors that shift the supply curve were constant when observing changing prices and quantities traded:

A simple,idealized representation of the real world is called a(n):

The statistic used to test whether the independent variables taken as a group explain a statistically significant portion of the variation in the dependent variable is the:

The statistic that tests an individual coefficient for statistical significance is the:

The 1991 exports and imports by industry code are given in the following table.What is the approximate intercept coefficient estimate a of the regression of exports as a function of imports?

The coefficient of determination,or R-squared,is defined as:

Annual sales and profits in the coal industry are given in the following table.What is the slope coefficient estimate b of the regression of profits as a function of sales?

A regression of the average temperature in July as a function of the average temperature in January across cities yielded the following: July temperature = 20 + 2.0 * January temperature,Prob > F = .03,R² = .64,and RMSE = 20.If a city has an average temperature of 40 degrees in January,what does this regression say about its likely July temperature?

The standard error of the estimate is also known as:

Suppose the size of the labor force and unemployment rate across countries in 2001 are given in the following table.What is the intercept coefficient estimate a of the regression of the unemployment rate as a function of the labor force?

The mean annual precipitation in inches and number of days per year with measurable precipitation by selected cities are given in the following table.If the average number of days with rain is one greater in Tupelo than in Tucumcari,what do you estimate the difference in average annual rainfall will be?

A regression of the mean daily high temperature as a function of mean daily low temperature across cities yielded High = 21 + Low,R² = .98,and RMSE = 1.4.Interpret these results.

Coal industry sales and profits are given in the following table.What is the intercept coefficient estimate a of the regression of profits as a function of sales?

Serial correlation occurs when:

The vacancy rates for commercial office space in 2001 for selected cities are given in the following table.What is the intercept coefficient estimate a of the regression of the vacancy rate downtown as a function of the vacancy rate in the suburbs?

A cost of estimating demand functions particular to the use of market experiments is:

If the Durbin-Watson statistic is 2,we can conclude that:

Regression analysis is:

In simple regression analysis (Y = a + bX),the estimate of the intercept coefficient a is equal to