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11. A regression is carried out where gdp per capita (gross domestic product, contained in the variable "gdp") measured
Posted: Wed Apr 27, 2022 12:18 pm
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11. A regression is carried out where gdp per capita (gross domestic product, contained in the variable "gdp") measured in a 1980 currency basket is regressed on the percentage of attorneys and lawyers in the country (the variable "perclaw") and the percentage of engineers in the country ("perceng"). We have data for 25 countries for the years 1970-1989 (so, total sample size is 500). In addition, there is a dummy variables "asian" which is 1 for the Asian countries in our sample and otherwise, and a dummy variable "sevties" that is 1 for the observations from the 1970-1979 period and otherwise, The regression results that were obtained are the following: (standard error in parentheses) dp = 217 - 6.36. perclaw+ 19.1 percengt 11 sian- 2.3. sevtics (23) (3.02 (128) (2:34) (1.56 1) Is coefficient of asian significantly greater than 0 at 1% significance level? Show your null hypothesis, alternative hypothesis, critical value, value of test statistics and your conclusion (12 points) 2) Construct 5% confidence interval for the coefficient of perceng. (Hint: CE = Bk to SE(BR)) (10 points)
11. Write down a functional form for MA (4) process and ARMA (3, 1) process (10 points)