Maurice Tutor

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

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 11 Feb 2018 My Price 7.00

de- fense budget

7.18.      U.S. defense budget outlays, 1962–1981. In order to explain the U.S. de- fense budget, you are asked to consider the following model:

Yt   = β1 + β2 X2t + β3 X3t + β4 X4t + β5 X5t + ut

where   Yt   = defense budget-outlay for year t, $ billions

X2t  = GNP for year t, $ billions

X3t = U.S. military sales/assistance in year t, $ billions

X4t  = aerospace industry sales, $ billions

X5t = military conflicts involving more than 100,000 troops. This variable takes a value of 1 when 100,000 or more troops are involved but is equal to zero when that number is under 100,000.

To test this model, you are given the data in Table 7.8.

a.    Estimate the parameters of this model and their standard errors and obtain R2 , modified R2 , and R¯ 2 .

b.     Comment on the results, taking into account any prior expectations you have about the relationship between Y and the various X variables.

c.     What other variable(s) might you want to include in the model and why?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 11 Feb 2018 03:02 PM My Price 7.00

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