Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 408 Weeks Ago
Questions Answered: 66690
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 28 Jan 2018 My Price 7.00

stock of tractors

8.15.      In studying the demand for farm tractors in the United States for the pe- riods 1921–1941 and 1948–1957, Griliches† obtained the following results:

l---ogYt  = constant −  0.519 log X2t  −  4.933 log X3t              R2 = 0.793 (0.231)        (0.477)

where Yt = value of stock of tractors on farms as of January 1, in 1935–1939 dollars, X2 = index of prices paid for tractors divided by an index of prices received for all crops at time t − 1, X3 = interest rate pre- vailing in year t − 1, and the estimated standard errors are given in the parentheses.

a.     Interpret the preceding regression.

b.     Are the estimated slope coefficients individually statistically signifi- cant? Are they significantly different from unity?

c.     Use the analysis of variance technique to test the significance of the overall regression. Hint: Use the R2 variant of the ANOVA technique.

d.     How would you compute the interest-rate elasticity of demand for farm tractors?

e.     How would you test the significance of estimated R2?

Answers

Maurice Tutor
(5)
Status NEW Posted 28 Jan 2018 11:01 PM My Price 7.00

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