ECOM20001 Introductory Econometrics 计量经济学导论代写
Assignment 1 Ecom20001 Sem 21Assignment 1This assignment is evaluated for a total of 34 marks. It is worth 10% of your finalmark. No late assignments will be accepted if for some reason you cannot submit on timeplease submit an application for special consideration to have the weight for this assignmentput on your final examination. Please use the LMS page for this subject to submit it. This isan individual project each person is expected to do their own assignment. It is due by11:30pm on Thursday 14th September.The first is a question taken from a previous year’s final examination and you shouldprepare an answer in the same manner you would on an exam – without using a computer forcomputations. The second and third questions require that you use EViews.Please limit your total response to no more than the equivalent to 10 A4 pages. Youmay cut and paste the Eviews output in your file. (Nb. This is what we mean when we say“Report the results”). In most cases any figures will probably need to be reduced in size. Anyequations can be done using the equation editor in Word.Question 1 (10 marks)The true regression between x and y in the population is given by0 1 i i iy x e where
ECOM20001 Introductory Econometrics 计量经济学导论代写02 and 13. Suppose the values of x in the sample of 5 observations are1,2,3,4,5.The values of the actual errors drawn at random from a normal population withzero mean and unit variance are:e 1 = .464 e 2 = .137 e 3 = 2.455 e 4 = -0.323 e 5 = -0.068(i) Show that the observed 5 values of y are as given in the Table below (2 marks)Y5.4648.13713.45513.67716.932(ii) Use the least squares formulas to estimate the regression coefficients. Show yourworking. (2 marks)(iii) Use this data to calculate the estimated error variance and show your working.(2 marks)(iv) Using this data calculate the standard error of the estimated slope coefficient andshow your working. (2 marks)(v) Carry out a test for the existence of a relationship between x and y. (2 marks)Assignment 1 Ecom20001 Sem 22Question 2 (12 marks)The Executive Express Café (the café) was founded in semester 2 of 2009 and is run byvolunteer undergraduate business students. Since its inception, the café has been operating ona semester by semester basis. The café purchases drinks and food at wholesale prices andthen sells the goods primarily to students but also academics and other University staff atreasonable prices. Lunch is by far the most popular meal, and the most popular items arepizza and sandwiches. Normal hours for the café are from 8 a.m. to 3 p.m. As sales havegrown, managing the supply chain and keeping waste under control have become moredifficult.Managers do not have a clear picture as to what the pattern of sales is. Is there more orless sold on certain days and is there a weekly cycle? This information could be useful inpurchasing so that there is less chance of running out. On the other hand, having slow sales ofparticular items on specific days of the week could help the managers buy fewer items tolimit the number of items that expire and are wasted. Also, having a better understanding ofthe fluctuations in sales between days of the week would be useful for staffing purposes sothat long customer queues can be avoided.The managers have made available two time series of the most popular items in the filecafe.wf1. The data on the two series cover 60 days, Monday through Friday that the café wasopen in semester 2, 2015.The two series are:pizza: number of pizza slices sold per daysandw: number of sandwiches sold per dayThe two other series in the file aredayofweek: Day of the week (Monday through Friday)week: The week of the semester (1 through 12)They would like you to analyze this data by answering the following questions:(i) Create a time series plot of each series. Do you observe any patterns in these plots?(4 marks)Hint: use Line&Symbol/Basic graph. That is, the Eviews graph options should looklike:(ii) Present a time series plot of each series by day of the week (2 marks)Hint: use Line&Symbol/categorical graph with dayofweek as the within graph factorand choose raw data as the graph data option. That is, the Eviews graph optionsshould look like:Assignment 1 Ecom20001 Sem 23(iii) Present a time series plot of each series that shows the mean amount purchased by theweek of the semester. (2 marks)(Hint: use Line&Symbol/categorical graph with week as the within graph factor and choosemeans as the graph data option). (iv) Based on the graphs you produced in (ii) and (iii) write a paragraph (6 or 7 sentences)giving advice to the managers about the fluctuations in their sales by day of week and weekof semester? (4 marks)Question 3 (12 marks)You have been asked to study the trade-off between time spent sleeping and workingand to look at other factors affecting sleep including years of education and age. The data arein the file sleep.wf1 and the variables are defined assleep – measured in minutes per weektotwrk – measured in minutes per weekeduc – years of educationage – measured in years.(i) Estimate a relationship between sleep and totwrk and also include years ofeducation and age as explanatory variables. Report your results (that is, include acopy of the Eviews regression output). (1 mark)(ii) Suppose an individual is currently working 35 hours per week. If they were towork 40 hours per week by how many minutes is sleep predicted to fall? Is this alarge trade-off. (3 marks)(iii) Would you say totwrk, educ and age explain much of the variation in sleep?(1 mark)Assignment 1 Ecom20001 Sem 24(iv) Re-estimate the equation in (i) but now also include the squared totwrk variable.Report your results. (1 mark)(v) Test for the existence of a nonlinear relationship between totwrk and sleep.(2 marks)(vi) Now using the model estimated in (iv), if an individual is currently working 35hours per week and if they were to work 40 hours per week by how many minutesis sleep predicted to fall? How does the result compare to that obtained in (ii)above? (3 marks)(vii) Which model do you prefer? The model estimated in (i) or the model estimated in(iv)? Justify your answer. (1 mark)ECOM20001 Introductory Econometrics 计量经济学导论代写
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