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DRQ #9 AGEC 317 3 pts October 15, 2013

DRQ #9 AGEC 317 3 pts October 15, 2013. (1 pt ) 1 . In the simple generic linear regression model, y i = b 0 + b 1 x i + e i , give the technical names of y i , x i , and e i . y i – endogenous variable; dependent variable;

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DRQ #9 AGEC 317 3 pts October 15, 2013

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  1. DRQ #9AGEC 317 3 pts October 15, 2013 (1 pt) 1. In the simple generic linear regression model, yi= b0+ b1xi +ei, give the technical names of yi, xi, and ei. yi– endogenous variable; dependent variable; xi- exogenous variable; explanatory variable; regressor ei - disturbance term; error term; innovation (1/2 pt) 2. Suppose that b1 is estimated to be -.3. Interpret this coefficient. if x changes by 1 unit, the y changes by .3 units in the opposite direction (1/2 pt) 3. Which of the following diagrams best describes the relationship of the number of Prego units sold (Prego Units) and advertising expenditures (A) made by Prego? . c) a) b) d) . . A . . . A Prego-Units Prego-Units . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  2. (1/2 pt) 4. What is the technical name of the respective diagrams? Scatter plots (1/2 pt) 5. The acronym OLS stands for ? ordinary least squares

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