Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Microeconomics Expert

problem 1: Are total household expenditures symmetric, positively skewed, or negatively skewed?

problem 2: What is the mean, median, and standard deviation of total household expenditures?

problem 3: Interpret the 95% confidence interval for mean total household expenditures:

problem 4: Test whether the population mean of total household expenditures is equal to $2500. (prepare down your null hypothesis, alternative hypothesis, test statistic, rationale for rejecting or failing to reject, and the result of your test. Interpret this result – in other words, what can you conclude?)

problem 5: Test whether the population mean of total household expenditures is greater than $2500. (prepare down your null hypothesis, alternative hypothesis, test statistic, rationale for rejecting or failing to reject, and the result of your test. Interpret this result – in other words, what can you conclude?)

problem 6
: From the scatter plot, does there appear to be a relationship between food share and total household expenditures?  If so, are they positively or negatively related?

problem 7: Is this correlation coefficient consistent with your answer to part (above)?

problem 8: Interpret R2 and the meaning of the intercept and slope parameters from the regression model.

Stata Problem Set Instructions
:

Please prepare your answers on the attached answer sheets, and turn in the answer sheets as cover pages attached to your Stata log and graphs.

You may work on this problem set with your classmates, but you must generate your own Stata log and prepare up your answers independently.

1) Type the following command to load the THAIEXP dataset:

use http://www.ssc.wisc.edu/~mckelvey/ec310/thaiexp.dta

2) Launch Stata and use the display command to prepare your name to the log.  For ex, type the following command:

display “Christopher McKelvey”

3) Use the describe command to determine which variable in this dataset contains total household expenditures and which contains the share of total expenditures spent on food.

4) Use the histogram command to graph a histogram of total household expenditures and to assess whether the distribution is symmetric or skewed.

5) Use the summarize command with the detail option to find out the mean, median, and standard deviation of total household expenditures.

6) Use the ci command to find out a 95% confidence interval for the population mean of total household expenditures.

7) Use the test comand to test whether the population mean of total household expenditures is equal to $2500 using a 5% size of test.

8) Use the test comand to test whether the population mean of total household expenditures is greater than $2500 using a 5% size of test.

9) Use the scatter command to graph a scatterplot of food share (on the y-axis) and total household expenditures (on the x-axis) and assess the relationship between the two variables.

10) Use the correlate command to find out the correlation coefficient between food share and total household expenditures.

11) Use the regress command to run a regression of food share on total household expenditures.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9334

Have any Question? 


Related Questions in Microeconomics

Assignment production cost analysis and estimation applied

Assignment: Production Cost Analysis and Estimation Applied Problems Please complete the following two applied problems: Problem 1: William is the owner of a small pizza shop and is thinking of increasing products and lo ...

Description of assignmentreport paper basisstudents work

Description of Assignment: Report Paper basis. Students work together to research and profile a particular in Microeconomic policy: the property tax in the United States. Grading Criteria (What constitutes a good assignm ...

Assignmentvisit wwwlovemarkscom and share your thoughts on

Assignment Visit www.lovemarks.com and share your thoughts on Branding and Pricing as it relates.....to "The Future Beyond Brands." Check out the Love/Respect Axis and see just where your favorite brand is sitting. (lmnu ...

Assignmentyou have been asked to assist your organizations

Assignment You have been asked to assist your organization's marketing department to better understand how consumers make economic decisions. Write a 1,050-word analysis that includes the following: • The impact the theo ...

1 please prove that two indifferent curve cannot cross each

1. Please prove that two indifferent curve cannot cross each other. 2. Please solve the following maximization problem u = √x 1 + x 2 max√x 1 + x 2 , st, p 1 x 1 + p 2 x 2 ≤ m 3. a. When prices are (p 1 , p 2 ) = (1, 2) ...

Application evaluation of research resultsno research

Application: Evaluation of Research Results No research project or study is perfect. Studies that contain errors can produce unreliable or misleading results. As a consumer of research, you must be able to determine the ...

Suppose the economy was at equilibrium before the start of

Suppose the economy was at equilibrium before the start of the recession. Show this using the IS-LM, Keynesian cross, AD-SRAS-LRAS and money market spaces. Following the start of the recession, what happened to aggregate ...

Discussion questionsi need 3 different discussion to be

Discussion Questions I need 3 different Discussion to be answered, by replying to what the student wrote. I'll forward the Discussions as we agree to shake hands. Word counts asnwer question no more than 100 words if mor ...

Question 1which of the following has not been identified as

Question 1 Which of the following has NOT been identified as a basic consumer right? Consumers have a right to safe products. Consumers have a right to collude. Consumers have a right to be informed about a product. Cons ...

Assignmentxyz company enters into a contract with mary to

Assignment XYZ Company enters into a contract with Mary to landscape Ben's yard, using None Nursery to supply trees and buses. Kate owns the lot next to Ben's property. The landscaping is a gift from Mary to Ben, who is ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro