Assignment 1 To investigate the effects of the land size (lotsize)and house size (sqrft) on the house price (price) in a particular suburb, the following model log()=0+1log()+2log()+ is used. a) What is the meaning of 1in this model? b) Explain why you would (or would not) expect that 1>0. c) Explain the meaning of the zero-conditional-mean assumption for this model. d) Download the description file “hprice1.des” and data file “hprice1.raw” from the course website and read the descriptions about the data. Find the (i) the units of measurement; (ii) the sample means; and (iii) the sample standard deviations of price , lotsize , sqrft and bdrms. (e) With the data in “hprice1.raw”, estimate the above …show more content…
(/m# option or -set memory-) 10.00 MB allocated to data . do "D:\DOCUME~1\z3287970\LOCALS~1\Temp\STD00000000.tmp" . #delimit; //Commands must be separated by semicolon delimiter now ; . version 9; . clear; . capture log close; . set memory 64m; (65536k) . cd D:\stata; D:\stata . log using myLog, replace; (note: file D:\stata\myLog.smcl not found) -------------------------------------------------------------------------------- name: log: D:\stata\myLog.smcl log type: smcl opened on: 22 Mar 2011, 14:36:56 . infile > price assess bdrms lotsize sqrft > colonial lprice lassess llotsize lsqrft > using hprice1.raw; (88 observations read) . //Sample Means and Sample Standard Deviations// > summarize price lotsize sqrft bdrms; Variable | Obs Mean Std. Dev. Min Max -------------+-------------------------------------------------------- price | 88 293.546 102.7134 111 725 lotsize | 88 9019.864 10174.15 1000 92681 sqrft | 88 2013.693 577.1916 1171 3880 bdrms | 88 3.568182 .8413926 2 7 . //Estimate the OLS model// > regress lprice llotsize
While both medical care and public health work to improve the lives of many people, there are several distinctions between the two fields. Healthcare providers such as nurses and doctors are responsible for diagnosing and treating illnesses for individual patients. The care ranges from minor injuries to severe and chronic diseases. Meanwhile, public health strives to improve the well-being of a population. Public health advocates for the overall “promotion and prevention” of diseases before it even becomes an issue for healthcare providers. Public health encourages people to adopt healthy lifestyle choices and strives to control the outbreak of diseases. Although public health is often overlooked in the grand scale of medical care, it is undoubtedly the main aspect in ensuring that the overall health of a community is prospering.
This is a report which has been created to introduce new childcare practitioners to safeguarding within a childcare setting. This will help new practitioners to understand current legislations within the United Kingdom.
Answer the next question on the basis of the following production possibilities tables for countries Alpha and Beta:
THE UNIVERSITY OF NEW SOUTH WALES SCHOOL OF ECONOMICS ECON1202/2291 QUANTITATIVE MEHODS A FINAL EXAMINATION SESSION 2 2008
Identify and describe at least two resources that teachers can utilize in their planning and implementation. These can be text or web-based resources.
The bank rate is the interest rate at which the Bank of Canada stands ready to lend reserves to chartered banks. The banker 's deposit rate is the interest rate that the Bank of Canada pays banks on their deposits at the Bank of Canada. Changes to these rates by the Bank of Canada typically spread to other interest rates and therefore will influence the amount of lending done by the banks.
An ethical issue that individuals face today involves the price war or price discrimination involving the airline industry. According to the legal definition of price discrimination: Price discrimination is the practice of charging different persons different prices for the same goods or services. Price discrimination is made illegal under the Sherman Antitrust Act. 15 U.S.C. §2, the Clayton Act, 15 U.S.C. §13, and by the Robinson-Patman Act, 15 U.S.C. §§13-13b, 21a, when engaged in for the purpose of lessening competition, such as tying the lower prices to the purchase of other goods or services.
Question 5 If the relevant population is 268 million people and the number of people in the labor force is 148 million, the labor force participation rate is:
Deciding to start a business is brave and adventurous. The first step to success is a brilliant, viable, profitable idea. Whether you have decided to do it on your own because you are tired of working for someone else, or you are laid off after many years in your organization, before you decide to invest your life savings and get buried in debt, consider the big picture, the current economy, your demographic target consumer and do your research. The idea of solar energy is one such brilliant, viable idea. True the demand is present for such energy, but before taking the leap, consider the market saturation, competition, governmental rules and regulations and other determent factor that will influence the success of your
I know GL is not showing us any payments for 2015 & 2016 is there any way you can check your records for this member? His employer said they paid earlier and then today. I see the payment for today but not the first payment for his 2016 renewal. If he did pay earlier and we have two payments they would like to apply one of them towards his 2017 membership.
When assessing the tradeoffs between suppressing drug use/abuse versus the creation of illicit crime, we see that there are many benefits as well as costs. If policymakers are trying to suppress drug use/abuse, then they will create policies specifically targeting the 20% of the users that consume 80% of the drugs, in other words targeting those who are heavy substance abusers. The benefits in suppressing drug use/ abuse is that we see a reduction in the number of alcohol/drug-related deaths as well as a reduction in addiction to drugs with a high capture rate. For example, according to Philip J Cook, “A Free Lunch,” an increase in federal alcohol taxes could provide everyone expect the alcohol abusers with a net financial gain, which indicates that the higher the taxes, the more likely they will decide not to drink as much. However, while this may be effective for alcohol it doesn’t mean that the same measures of suppression could be effective for other drugs. If we decide to implement higher taxes for cigarettes, then we will see an increase in illicit tobacco markets (as stated in “Unintended Consequences of Cigarette Production, Regulation, and Taxation). When deciding to suppress drug use/ abuse, policies must be tailored specifically to one drug or else we will be causing more harm than
Formulate a reason why the elasticity of demand is an important consideration when analyzing the impact of a shift in supply and why the elasticity of supply is an important consideration when analyzing the impact of a shift in demand. Include at least one (1) example in each scenario.
SABMiller and Diageo are two largest beer producer in Africa. ”SABMiller, if combined with its partnership with France's Castel Group, sells roughly 60% Africa’s beer by volume. Diageo’s also expands its operation successfully that Senator Keg, its supercheap beer, is also now number two most popular beers in Kenya. As these giant brewers monopolized Africa’s beer market, it can be said that the market has an oligopoly market structure, and both pursue identic operations, so the market can be labeled as competitive. The interdependence that is happening between both brewers makes the competition happens. As SABMiller produces Impala that is half price from its previous beer Manica, Diageo produces Senator Keg to balance it. Diageo
This case involves an investigation of the factors that affect the sale price of Oceanside condominium units. It represents an extension of an analysis of the same data by Herman Kelting (1979). Although condo sale prices have increased dramatically over the past 20 years, the relationship between these factors and sale price remain about the same. Consequently, the data provide valuable insight into today’s condominium sales market.
The CEO of Dynamic Manufacturing was at a conference and talked to a supplier about a new piece of equipment for its production process that she believes will produce ongoing cost savings. As the Operations Manager, your CEO has asked for your perspective on whether or not to purchase the machinery.