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OLS regression assignment

 
 
Reply Thu 1 Oct, 2015 02:02 pm
Hi, I'm currently doing a Regression assignment for my College Economics class and I am just very, very lost. I believe that I have ran the regression correctly but now the instructions are as follows: 5. Estimate the following regression model with your data from the “per capita data” or “clean data” page. The results of this regression should appear on a different spreadsheet page named “results.”

TAXREVCAP = B0 + B1UNEMPLOYMENT + B2GSPCAP + B3SOUTH + B4DEMGOV + e

a. Using your regression results, calculate a point forecast for a state in the South with a Republican governor, with UNEMPLOYMENT of 5.0 and GSPCAP of 30,000.

b. Construct a 90% Confidence Interval for your point forecast.

And my problem is I just don't really understand how to read the regression. Any help would be much appreciated
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engineer
 
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Reply Thu 1 Oct, 2015 03:52 pm
@rfalcioni,
If you have done the regression, you should have values for Bo, B1, B2, B3, B4 and e although I don't know why you have Bo and e instead of just the sum of the two.

For part a, insert the values given into your equation. DEMGOV=0 and SOUTH=1.

For part b, you will need to use the summary statistics generated by Excel. This link shows you how to interpret the results table.
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