Modelling with Econometrics: Challenges and Solutions ECM3MEC

Modelling with Econometrics: Challenges and Solutions ECM3MEC

Task 1
?    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]

Task 2

?    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]

How to place an order?

Take a few steps to place an order on our site:

  • Fill out the form and state the deadline.
  • Calculate the price of your order and pay for it with your credit card.
  • When the order is placed, we select a suitable writer to complete it based on your requirements.
  • Stay in contact with the writer and discuss vital details of research.
  • Download a preview of the research paper. Satisfied with the outcome? Press “Approve.”

Feel secure when using our service

It's important for every customer to feel safe. Thus, at College Papers Help, we take care of your security.

Financial security You can safely pay for your order using secure payment systems.
Personal security Any personal information about our customers is private. No other person can get access to it.
Academic security To deliver no-plagiarism samples, we use a specially-designed software to check every finished paper.
Web security This website is protected from illegal breaks. We constantly update our privacy management.

Get assistance with placing your order. Clarify any questions about our services. Contact our support team. They are available 24\7.

Still thinking about where to hire experienced authors and how to boost your grades? Place your order on our website and get help with any paper you need. We’ll meet your expectations.

Order now Get a quote