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Please answer asap Image transcription text1. Question 1 (2

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Please answer asap Image transcription text1. Question 1 (2 pts): Explain the OLS method in two sentences. You may need to use a. graph. 2. Question 2 (2 pts): If you estimate a regression equation by using the OLS method, what is the sum of the residuals? 3. Question 3 (10 pts): Explain the ?ve main classical assumptions of the OLS method. 4. Question 4 (2 pts): De?ne an error term with serial correlation of order 1. Suggest a correction method for this type of serial correlation. 5. Question 5 (2 pts): What is multi-oollinearity? Explain the consequences of a multi-collinearity problem. 6. Question 6 (10 pts): When one says that an OLS estimate is unbiased? Explain clearly why the OLS estimate is unbiased. 7. Question 7 (4 pts): A bank is interested in determining whether their customers’ checking account balances are linearly related to their savings balances. A sample of n = 20 customers was selected and the correlation was calculated to be +0.40. If the bank is interested in testing to see whether there is a signi?cant linear relationship between the twovariables using a signi?cance level of .05, What are the correct null and alternative hypotheses? 8. Question 8 (5 pts): You are given the following sample data for two variables: X Y 10 100 8 110 12 90 15 200 16 150 10 90 10 80 The sample correlation coef?cient is 0.755. Is this statement correct? 9. Question 9 (2 pts): The following regression model has been computed based on a sample of twenty observations: if = 34.2 + 19.31:. Given this model, what is the predicted value for y when r. = 40. 10. Question 10 (10 pts): The following regression model has been computed based on a sample of twenty observations: 37 = 34.4 + 201′, where y is the individual consumption and 1′ is the personal income. The ?rst observations in the sample for y and I were 300 and 18, respectively. Given this, what is the elasticity of y with respect to a”? What does it mean? 11. Question 11 (2 pts): Consider the population multiple regression model y = [30+ .811 +?,z+s. Can’t talk to Bixby during calls. 12. regression model is signi?cant? Whichtat statistic should you use to test this hypothesis? 13. Question 13 (2 pts): What is homocedasticity? Give a simple example of heteroscedasticity in a simple linear regression model by presenting a scatter xy plot of the variables? 14. Question 14 (2 pts): Suppose that the adjusted R2 for an estimated multiple regression model is 0.81, what does this number mean? … Show moreBusinessEconomicsEconometricsECON 2220

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