ECON 213 Quiz
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ECON 213 Quiz
Time and Date: 19 Nov 2022 12:00nn - 23:59pm
Submit your answer to the Moodle link before the deadline.
Refer to the following data to answer the questions:
|
|
PAY |
GMAT |
TUITION |
RANK |
|
Harvard |
135630 |
713 |
48738 |
1 |
|
Stanford |
134654 |
721 |
45921 |
1 |
|
UPenn |
132171 |
712 |
49722 |
3 |
|
MIT |
127839 |
705 |
44792 |
4 |
|
UChicago |
126818 |
709 |
45139 |
4 |
|
Dartmouth |
128182 |
713 |
43240 |
7 |
|
Berkeley |
116263 |
710 |
37949 |
7 |
|
Columbia |
129427 |
707 |
45422 |
9 |
|
NYU |
124752 |
700 |
41822 |
10 |
|
UCLA |
115318 |
704 |
37286 |
11 |
|
U Michigan |
120408 |
700 |
43289 |
12 |
|
Yale |
118964 |
700 |
47182 |
13 |
|
Cornell |
118888 |
682 |
44260 |
14 |
|
Duke |
117473 |
690 |
45663 |
14 |
|
UVA |
121279 |
688 |
42602 |
14 |
|
Carnegie Mellon |
111996 |
696 |
45644 |
17 |
|
UT Austin |
109871 |
673 |
38222 |
18 |
|
UNC |
112375 |
681 |
39882 |
19 |
|
Indiana University |
105296 |
656 |
34852 |
20 |
|
USC |
103317 |
689 |
40550 |
21 |
|
ASU |
98318 |
675 |
28220 |
22 |
|
Georgetown |
108959 |
677 |
40017 |
22 |
|
Emory |
107991 |
685 |
37576 |
24 |
|
U Rochester |
99436 |
673 |
37791 |
25 |
|
Wash U |
96559 |
674 |
38729 |
25 |
|
OSU |
97622 |
661 |
35337 |
27 |
|
U Minnesota |
100104 |
661 |
36596 |
27 |
|
BYU |
93448 |
661 |
8700 |
29 |
|
Georgia Tech |
88288 |
665 |
30016 |
29 |
|
Texas A&M |
97496 |
665 |
25323 |
29 |
|
U Wisconsin |
93097 |
656 |
26536 |
29 |
|
Purdue |
96196 |
662 |
33462 |
33 |
|
Boston College |
94271 |
651 |
27024 |
34 |
|
U Florida |
70592 |
680 |
23103 |
34 |
|
Notre Dame |
95263 |
673 |
36040 |
34 |
|
U Washington |
93677 |
679 |
29543 |
34 |
|
U Illinois |
92239 |
627 |
29610 |
38 |
|
U Maryland |
99433 |
650 |
38575 |
39 |
|
Boston U |
92634 |
668 |
35370 |
40 |
where,
PAY = average starting pay of MBA graduates
GMAT = GMAT score
TUITION = Tuition fees
RANK = Ranking of the graduate business school
a. Estimate the following multiple regression model with the data and present the regression results.
PAYi = β1 + β2 GMATi + β3 TUITIONi + β4 RANKi + ui
b. Interpret the intercept and the (partial) slope coefficients, do the results make economic sense?
c. Suppose TSS is 8.847E+09, using ESS and TSS to show your calculation of R2 and Adjusted R2, 
2.
d. Interpret R2.
e. Conduct the Jarque-Bera test to test for the normality of the error term (use P-value). Why do we need to do normality test?
Note that for the following questions related to hypothesis testing, you have to show the process of computing the t and F statistics.
f. Test whet
2022-11-28