University | The Royal Melbourne Institute of Technology (RMIT) |
Subject | ECON1272: Basic Econometrics Assignment |
ECON1272: Basic Econometrics Assignment, RMIT, Singapore: Use R to run a cross-sectional regression on energy use per capita for the listed countries
QUESTION 1
Use the dataset: Energy.RData,
Use R to run a cross-sectional regression on energy use per capita for the listed countries as follows:
lntpes_pc = ! + “lnypcpenn + #ln _gasprice + $ln _annnualprecip + %ffrents +
&lnpop + ‘lnland +
The variables are defined as follows:
lntpes_pc = log of total primary energy consumption per capita (ktoe)
lnypcpenn =log of GDP per capita (USD)
lnypcpenn2 = square of log of GDP per capita (USD)
ln_gasprice = log of pump price for gasoline (USD/liter)
ln_annualprecip= log of annual precipitation (mm)
ffrents = Fossil Fuel Rents (% of GDP)
lnpop = log of population (in millions)
lnland = log of land area (in km2)
Incomegroup = refers to income groups “1” , “2” and “3”, low, mid and high income countries. This is a categorical variable.
Bold letters denote vectors in the regression equation!
Hire a Professional Essay & Assignment Writer for completing your Academic Assessments
*”Log” always refers to natural logs or “ln” here.
1) Present your regression results in a table below (R output).
2) Interpret the constant and its p-value.
3) Interpret the coefficient on ln GDPPc and its p-value.
4) Interpret the coefficient on ln annual precipitation and its p-value.
5) Interpret the coefficient on ff-rents and its p-value.
6) Calculate the following statistics:
a. mean of the log energy use per capita variable
b. mean of the log energy use per capita variable for the low-income group
c. mean of the log energy use per capita variable for the middle-income group
d. mean of the log energy use per capita variable for the high-income group
7) Which of the income groups (categorical variable) is the base group Interpret the coefficients on the remaining categories (2 coefficients)!
8) Interpret the adjusted R squared of the regression.
9) Is the degrees of freedom high enough for standard normal critical values to be applied here? Give an explanation!
10) Define the 5 Gauss Markov assumptions (5*0.5 marks) and elaborate on whether they are likely to hold for this regression output/ model or not
Buy Custom Answer of This Assessment & Raise Your Grades
Looking for assignment help online for your ECON1272 Basic Econometrics course at the Royal Melbourne Institute of Technology (RMIT) in Singapore? Our team of experts is here to assist you! Whether you need help with your TMA, individual assignments, or even essay writing, we have got you covered.
Tags:-
- Business Accounting & Finance – (VM) – A3 Assignment, UOM, Singapore
- HRM3010S: Managing People At Work, Assignment, UCD, Singapore
- HFS351: Safety Management and Audit, End-of-Course Assessment, SUSS, Singapore
- HFSY217: Emergency Preparedness and Response Planning, TMA (Tutor-Marked Assignment), SUSS
- CMM315: TMA (Tutor-Marked Assignment) – Peacebuilding and Security, SUSS, Singapore
- Harley Davidson utilized different entry mode strategies in pursuit of internationalization: Sustainable, Assignment, UoN, Singapore
- Nursing Patients With Chronic Illness, Assignment 3, LTU, Singapore: Jason Bundhoo is a 42-year-old car driver from Triolet
- DSM: R for Data Science, Coursework 2, UOL, Singapore: In this coursework assignment you should return to this dataset and perform an appropriate investigation into building a statistical model
- DSM120: Financial Data Modelling, Coursework 1, UOL, Singapore
- Data Science Final Project, Coursework 1, UOL, Singapore: Your first formal coursework submission is your full project proposal, This sets out very clearly what your Data Science Project will be, and also how you will conduct the project
UP TO 15 % DISCOUNT