ECOM20001 Introductory Econometrics 计量经济学导论代写

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  • ECOM20001 Introductory Econometrics 计量经济学导论代写

    Assignment 1  Ecom20001 Sem 2
    Assignment 1
    This assignment is evaluated for a total of 34 marks. It is worth 10% of your final
    mark. No late assignments will be accepted if for some reason you cannot submit on time
    please submit an application for special consideration to have the weight for this assignment
    put on your final examination. Please use the LMS page for this subject to submit it. This is
    an individual project each person is expected to do their own assignment. It is due by
    11:30pm on Thursday 14th September.
    The first is a question taken from a previous year’s final examination and you should
    prepare an answer in the same manner you would on an exam – without using a computer for
    computations. 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. You
    may 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. Any
    equations 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 by
    0 1 i i i
    y x e      

    ECOM20001 Introductory Econometrics 计量经济学导论代写
    2   and 
    3.   Suppose the values of x in the sample of 5 observations are
    1,2,3,4,5.The values of the actual errors drawn at random from a normal population with
    zero 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)
    (ii)  Use the least squares formulas to estimate the regression coefficients. Show your
    working. (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 and
    show 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 2
    Question 2 (12 marks)
    The Executive Express Café (the café) was founded in semester 2 of 2009 and is run by
    volunteer undergraduate business students. Since its inception, the café has been operating on
    a semester by semester basis. The café purchases drinks and food at wholesale prices and
    then sells the goods primarily to students but also academics and other University staff at
    reasonable prices. Lunch is by far the most popular meal, and the most popular items are
    pizza and sandwiches. Normal hours for the café are from 8 a.m. to 3 p.m. As sales have
    grown, managing the supply chain and keeping waste under control have become more
    Managers do not have a clear picture as to what the pattern of sales is. Is there more or
    less sold on certain days and is there a weekly cycle? This information could be useful in
    purchasing so that there is less chance of running out. On the other hand, having slow sales of
    particular items on specific days of the week could help the managers buy fewer items to
    limit the number of items that expire and are wasted.   Also, having a better understanding of
    the fluctuations in sales between days of the week would be useful for staffing purposes so
    that long customer queues can be avoided.
    The managers have made available two time series of the most popular items in the file
    cafe.wf1. The data on the two series cover 60 days, Monday through Friday that the café was
    open in semester 2, 2015.The two series are:
    pizza: number of pizza slices sold per day
    sandw: number of sandwiches sold per day
    The two other series in the file are
    dayofweek: 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 look
    (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 factor
    and choose raw data as the graph data option. That is, the Eviews graph options
    should look like:
    Assignment 1  Ecom20001 Sem 2
    (iii)  Present a time series plot of each series that shows the mean amount purchased by the
    week of the semester. (2 marks)
    (Hint: use Line&Symbol/categorical graph with week as the within graph factor and choose
    means 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 week
    of semester? (4 marks)
    Question 3 (12 marks)
    You have been asked to study the trade-off between time spent sleeping and working
    and to look at other factors affecting sleep including years of education and age. The data are
    in the file sleep.wf1 and the variables are defined as
    sleep – measured in minutes per week
    totwrk – measured in minutes per week
    educ – years of education
    age – measured in years.
    (i)  Estimate a relationship between sleep and totwrk and also include years of
    education and age as explanatory variables. Report your results (that is, include a
    copy of the Eviews regression output).  (1 mark)
    (ii)  Suppose an individual is currently working 35 hours per week. If they were to
    work 40 hours per week by how many minutes is sleep predicted to fall? Is this a
    large 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 2
    (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 35
    hours per week and if they were to work 40 hours per week by how many minutes
    is 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