Consider the following estimated models: Model 1: y gamma = 19 + 7.22x Model 2:

Question

Consider the following estimated models: Model 1: y gamma = 19 + 7.22x Model 2: y cap = 3.60 + 29 ln(x) Model 3: ln(y cap) = 3.0 + 0.06x; s_e = 0.04 Model 4: ln(y cap) = 2.4 + 0.36 ln(x); s_e = 0.12 a. Interpret the slope coefficient in each of the above estimated models, when x increases by one unit in Models 1 and 3 and by 1% in Models 2 and 4. (Round your answers to 2 decimal places.) Model 1: y cap increases by units Model 2: y cap increases by about units Model 3: y cap increases by about percent. Model 4: y cap increases by about percent. b. For each model, what is the predicted change in y when x increases by 4%, from 10 to 10.4? (Round your answers to 2 decimal places.) Model 1: y cap increases by units. Model 2: y cap increases by units. Model 3: y cap increases by percent. Model 4: y cap increases by percent.

Explanation / Answer

a) model 1: y increases by 26.22 units

model 2: y increases by 0.28856 units

model 3: y increases by 3.06 units

model 4: y increases by 0.1%

b) model 1: y increases by 2.888 units

model 2: y increases by 1.137 units

model 3: y increases by 0.024 units or 0.7%

model 4: y increases by 0.4%

model 2 when 10 to 10.4

model 4 when 10 to 10.4

model 2 x 1.01 x 1 1.01 3.6 3.88856 108.0% 0.28856 2 2.02 23.70127 23.98983 101.2% 0.28856 5 5.05 50.2737 50.56226 100.6% 0.28856 10 10.1 70.37497 70.66353 100.4% 0.28856 50 50.5 117.0487 117.3372 100.2% 0.28856 100 101 137.1499 137.4385 100.2% 0.28856 200 202 157.2512 157.5398 100.2% 0.28856 500 505 183.8236 184.1122 100.2% 0.28856 1000 1010 203.9249 204.2135 100.1% 0.28856

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