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Q1. [5 points] Imagine that you are head of personnel at Huge Corp. The CEO keeps getting
other people's mail by mistake, so she asks you to conduct a study of mailroom productivity. You
take a random sample of 27 mailroom employees and gather data on the following variables:
2. Ernest has just been hired, and has an aptitude score of 80. What level of productivity would
you expect from Ernest?
3. How much is Ernests productivity expected to improve after he gains an additional 6 months
of experience?
4. What is the best interpretation of the intercept term (2.0) in the regression equation?
5. Jack has 3 months more experience than Jill, but Jills aptitude score is 20 points higher than
Jacks. Who is expected to be more productive?
Q2. [3 points] Using total SAT score (SATSUM) and High-school grades (HSGPA) to predict
first-year college grades (FYGPA):
1. Which measure(s) describe how well the two predictors, as a team, predict first-year college
grades?
2. What percentage of the variability in first-year college grades are not explained by SATSUM
and HSGPA?
Q3. [10 points] Below are several regression analyses involving data for the 50 states in the U.S.,
measured in 2001. We will consider several models predicting income per capita (INCOME),
from the following predictor variables:
BA: percentage of state residents with bachelors degrees (ranging from 15 to 33 percent)
COMMUTE: the average commute time between home and work for the states residents
(ranging from 16 to 32 minutes)
3. Connecticuts BA score is 4 points higher than New Yorks BA score, but Connecticuts
COMMUTE score is 7 points lower than New Yorks COMMUTE score. Based on this
information, which state is predicted to have higher per capita income?
5. Construct a 95% confidence interval for the additional income associated with each additional
minute of commute time, holding constant the percentage of people with bachelors degrees in
model (3).
Q4. [7 points] We will now consider factors predicting the top speed of the n=74 cars. The
relevant variables:
TOPSPEED: Top speed of the car (in miles per hour)
WEIGHT: Vehicle weight (in pounds)
HORSEPOWER: Maximum horsepower of the cars engine
1. Suppose all we know about a car in the sample is that it weighs 4000 pounds. What would we
predict its top speed to be?
2. Suppose all we know about a car in the sample is that it weighs 4000 pounds and it has 200
horsepower. What would we predict its top speed to be?
4. Test for the increment effect of adding HORSEPOWER to the regression model (2).
Q5. [4 points] MULTIPLE CHOICE: Circle the one best answer to each question.
(1) If the error term is heteroskedastic, then the usual formula for the standard error of the least-
squares coefficient estimator is
a. still consistent.
b. inconsistent, with an upward bias.
c. inconsistent, with a downward bias.
d. inconsistent, and may be biased upward or downward.
(2) Under the null hypothesis of no heteroskedasticity, the Goldfeld-Quandt test statistic is close
to:
a. minus one.
b. zero.
c. one.
d. two.
e. four.
(3) Under the null hypothesis of no autocorrelation, the Durbin-Watson test statistic is close to
a. minus one.
b. zero.
c. one.
d. two.
e. four.
(4) Which test for serial correlation is still valid when the regressors in the original equation
include a lagged value of the dependent variablee.g., yt = 1 + 2 xt + 3 yt-1 + t ?
a. A t-test from a regression of the least-squares residual on its lag (without an intercept).
b. The Durbin-Watson test.
c. The F-test
d. none of the above.
Q6. [10 points] The regression equation y = 1 + 2 x + was estimated using 80 cross-sectional
observations on countries, by ordinary least squares. To check for heteroskedasticity related to
population, separate regressions were run for the 32 countries with the lowest populations and
the 32 countries with the highest populations. The sum of squared residuals for the low-
population countries was 240. The sum of squared residuals for the high-population countries
was 90.
a. Compute unbiased estimates of the variance of the error term in the two subsamples.
b. Given these results, which subsample appears to lie closer to the true regression line: the
low-population-countries or the high-population countries? Explain your answer.
Critical point =
Conclusion =
Critical point(s) =
Conclusion =
b. Compute an estimate of (rho), the serial correlation parameter, based on the value of
the Durbin-Watson statistic.
Estimate of rho =
Q8. [6 points] Consider the following regression model: