|University||RMIT University (RMIT)|
Econometrics Assignment, RMIT, Singapore: Include a minimum of 5 (five) explanatory variables in the regression equation and provide a scatter plot
Please model the drivers of GDPpc using R:
Include a minimum of 5 (five) explanatory variables in the regression equation and provide a scatter plot of your dependent and independent variables (5 scatter plots). (0.5 x 5 marks)
We suggest that you take the natural log of the dependent variable!
When modeling, explain each of your functional form specification choices with respect to:
- The economic or common sense behind the model – why do you pick this variable? (0.5 x 5 marks)
- Multicollinearity – are the independent variables multicollinear? (0.5 x 5 marks)
- Functional form specification- potential nonlinear relationships, eg: log-linear or quadratic relationships. Explain why you use a level or logarithmic form of a variable. (0.5 x 5 marks)
in writing. You will be graded on model accuracy in this section. Pay attention to appropriate degrees of freedom!
Use OLS standard errors.
- (Subtotal: 10 marks) 1 Table [regression output] & Explanations, 6 scatter plots
- Interpret the coefficients on 5 explanatory variables. Describe if the coefficients are elasticities semi-elasticities, or simple level coefficients.
- Interpret the statistical significance of these coefficients using the p-values OR the t-stat.
- Test for heteroscedasticity in R using the Breusch-Pagan test and copy below the results. Interpret the results of the Breusch Pagan test.
1 Table & Explanation
- Present the results from a) using HAC robust errors! Did any of the standard errors change significantly?
(3 marks) 1 Table & Explanations
- Explain The Gauss Markov Assumptions (2.5 marks), and whether these are likely to hold in your model? (2.5 marks)
(Subtotal: 5 marks)
- Explain the basic concept of an instrumental variable estimation, and when to use it. (2 marks)
What are the criteria for a good instrument? (2 marks)
Can any of the variables in the dataset be in a reverse causal relationship with the dependent variable? If yes, identify please. (2 marks)
What could be used as an instrument to remedy this? (1 mark)
(Subtotal: 7 marks)
- Present a functioning R code reproducing your results below!
Hire a Professional Essay & Assignment Writer for completing your Academic Assessments
Struggling with your coursework at RMIT University in Singapore? Look no further! Our Assignment Writing Service is here to provide you with expert support for GBA and individual assignments. From tackling complex subjects like econometrics to offering Homework Help in Singapore, our experienced team is at your service. For instance, if you're working on your econometrics Assignment at RMIT, we can help you include a minimum of 5 explanatory variables in your regression equation and even provide a detailed scatter plot. Don't let academic pressure overwhelm you – pay our experts to excel in your courses.
- BSS020C126S Introduction to Human Disease Coursework, URL, Singapore: Summaries the trends in incidence and/or mortality over the past 10 years for ONE specific
- Operations Management Assignment, SIM, Singapore: Identifying three operations management issues (at least one must be global in nature)
- ACC6063 Advanced accounting 2 Assignment, SMU, Singapore: the assumption that August is an associate of Caddy, what would be the Ca carrying amount of the investment
- ACC6063 Advanced accounting 2 Assignment, SMU, Singapore: What is the value of an investment in associates shown in the consolidated statement of financial position
- ACC6063 Advanced accounting 2 Assignment, SMU, Singapore: Which of the following definitions is not included within the definition of control per MFRS10
- ACC6063 Advanced accounting 2 Assignment, SMU, Singapore: XX acquired 80% of the share capital of LL on 1 August 2020 and is preparing its group financial statements
- Enterprise Server Management Assignment, TU, Singapore: Investigate both the advantages and disadvantages of moving to cloud computing
- Principles of logistics management Assignment, SIM, Singapore: Explain how the company competes in its industry. You can look at the competition, the players in the industry
- MKTG3040 Services Marketing Assignment, UON, Singapore: The purpose of Assessment Item Four: Reflective Essay is to assess your ability to critically discuss
- Business Research Assignment, SUSS, Singapore: Select a topic of interest or business problem relevant to your degree specialism, e.g. strategy
UP TO 15 % DISCOUNT
Get Your Assignment Completed At Lower Prices