Modelling with Econometrics: Challenges and Solutions ECM3MEC
? Download and describe the data. Calculate, using Eviews, the mean, median, standard deviation, maximum and minimum for each variable and comment. [2 marks]
? Write out the result in an equation form and provide economic meanings of the estimated slope coefficients. [2 marks]
? Statistically test for the significance of individual slope coefficients ß4 and ß5. (You may use either one-tailed or two-tailed test, but you should justify your choice giving economic reasons). [1 mark]
? Test the hypothesis that ß3 + ß4 + ß5 = 1 using the F-test (Wald test). Explain the economic meaning of this hypothesis. [1 mark]
? It is claimed that the main contributors to the total cost in this industry is the output level and fuel costs, while the capital costs and wage costs have negligible effect. Test this claim by F-test. [2 mark]
? Conduct the RESET test for the regression. Is there any evidence of specification error? [1 Mark]
? Test for the normality of error term in the regression using the appropriate test. [1 Mark]
? Plot the absolute values of residuals from equation (2) against log(Qi) (squared residuals on the y-axis). Comment on the main features in the variability of the total cost in relation to the problem of heteroskedasticity, giving economic interpretations. [2 marks]
? Combining the estimation and inferential results obtained so far, discuss the main econometric problems associated with the model. You may suggest possible solutions and, if necessary, conduct additional econometrics analyses to further improve the regression. [3 marks]
Our Service Charter
Excellent Quality / 100% Plagiarism-FreeWe employ a number of measures to ensure top quality essays. The papers go through a system of quality control prior to delivery. We run plagiarism checks on each paper to ensure that they will be 100% plagiarism-free. So, only clean copies hit customers’ emails. We also never resell the papers completed by our writers. So, once it is checked using a plagiarism checker, the paper will be unique. Speaking of the academic writing standards, we will stick to the assignment brief given by the customer and assign the perfect writer. By saying “the perfect writer” we mean the one having an academic degree in the customer’s study field and positive feedback from other customers.
Free RevisionsWe keep the quality bar of all papers high. But in case you need some extra brilliance to the paper, here’s what to do. First of all, you can choose a top writer. It means that we will assign an expert with a degree in your subject. And secondly, you can rely on our editing services. Our editors will revise your papers, checking whether or not they comply with high standards of academic writing. In addition, editing entails adjusting content if it’s off the topic, adding more sources, refining the language style, and making sure the referencing style is followed.
Confidentiality / 100% No DisclosureWe make sure that clients’ personal data remains confidential and is not exploited for any purposes beyond those related to our services. We only ask you to provide us with the information that is required to produce the paper according to your writing needs. Please note that the payment info is protected as well. Feel free to refer to the support team for more information about our payment methods. The fact that you used our service is kept secret due to the advanced security standards. So, you can be sure that no one will find out that you got a paper from our writing service.
Money Back GuaranteeIf the writer doesn’t address all the questions on your assignment brief or the delivered paper appears to be off the topic, you can ask for a refund. Or, if it is applicable, you can opt in for free revision within 14-30 days, depending on your paper’s length. The revision or refund request should be sent within 14 days after delivery. The customer gets 100% money-back in case they haven't downloaded the paper. All approved refunds will be returned to the customer’s credit card or Bonus Balance in a form of store credit. Take a note that we will send an extra compensation if the customers goes with a store credit.
24/7 Customer SupportWe have a support team working 24/7 ready to give your issue concerning the order their immediate attention. If you have any questions about the ordering process, communication with the writer, payment options, feel free to join live chat. Be sure to get a fast response. They can also give you the exact price quote, taking into account the timing, desired academic level of the paper, and the number of pages.