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EC3153 Quantitative Methods: Econometrics 2

Project 2021/22

Please see the Excel file named Project 2021-22 Data File for the data to be used in this project.

1. Run a regression using the variable RESPRICE as the dependent variable and all other variables in the file as independent variables and interpret the findings of this regression.

2. Test the regression from part 1 for multicollinearity.  Describe the process you use and what you find.

3. Test the regression from part 1 for autocorrelation.  Describe the process you use and what you find.

4. Explain what you would do to address any problems that you found in parts 2 and/or 3.  Re-run the regression, as appropriate, using these solutions and describe the results.

5. If you could add one more variable to the regression analysis, what would it be and why would you add it?  Check relevant data sources for the availability of data on this variable and report your success or otherwise.

Instructions:

All submissions should be typed, although equations, graphs, etc. may be hand-written/drawn and scanned into the document. You must use the answer sheet provided, with the details on the front page filled in.

The assignment should be no longer than 2500 words.  A bibliography does not count towards the word-count.

Notes:

· The submission date is FRIDAY April 8^th 2022. The assignment should be submitted via Canvas at or before 17:00 (GMT) on that date.

· Marks will be awarded for presentation and clarity of explanations and interpretations.

· Please ensure that you have a back up copy of your assignment, in case of lost of material.  This excuse (or similar) for late submission will not be accepted.

· Please consult the information note on Canvas, which outlines the Department’s policy on extenuating circumstances.

· The UCC policy on plagiarism applies to this assignment.  It is your responsibility to familiarise yourself with this policy.  This policy can be accessed at http://www.ucc.ie/en/exams/procedures-regulations/.