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ECS3706 ASSESSMENT5 1 SEM 1 OF 2024 EXPECTED QUESTIONS AND ANSWERS
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ECS3706/ASSIGNMENT 1/2024Assignment 01 Semester 01
Econometrics
ECS3706 OSCAR THE TUTOR
whatsapp +27737560989
for
FAC,MAC,ECS,TAX,FIN,INV,QMI,BNU,M
NB,MNG ,STA tutoring
Semester 1
Department of Economics
This tutorial letter contains Assignment 1 Questions.
BARCODE
, 1 Which of the following statements is/are correct? A dependent variable is also known as
a(n)
a Response variable
b Explanatory variable
c Control variable
OSCAR THE TUTOR
[1] a whatsapp +27737560989
[2] a and b for
[3] a, b and c FAC,MAC,ECS,TAX,FIN,INV,QMI,BNU,MNB,MNG
,STA tutoring
[4] b and c
[5] Not [1], [2], [3] or [4]
2 Which of the following statements is/are correct? The equation 𝑌̂ = 𝛽̂0 + 𝛽̂1 𝑋 denotes.
a The Explained Sum of Squares (ESS)
b The Total Sum of Squares (TSS)
c The Sample Regression Function (SRF)
[1] a
[2] a and b
[3] c
[4] b and c
[5] Not [1], [2], [3] or [4]
Questions 3 - 10 require you to estimate regression function 1 using the Ordinary Least Squares
(OLS) method.
𝐼𝑁𝐹 = 𝛽0 + 𝛽1 𝐼𝑅𝐴𝑇𝐸………………. (Equation 1)
Questions 11 – 13 require you to estimate the regression function 2.
𝐼𝑁𝐹 = 𝛽0 + 𝛽1 𝐼𝑅𝐴𝑇𝐸 + 𝛽2 𝐺𝐷𝑃………. (Equation 2).
Where: INF: Inflation Rate as measured by the Consumer Price Index (CPI) (annual %)
IRATE: Interest Rate (%)
GDP: Gross Domestic Product (current US$)
The data, which is obtained from the World Bank Development Indicators (WDI) for the period
1980 - 2022 is provided in the Excel spreadsheet under the Additional Resources Folder on
MyUnisa.
• Derive your answers from basic principles, using MS Excel to compile a table similar to
Table 2.1: The calculation of estimated regression coefficients for the Weight/Height
example). See Studenmund, p58 in the seventh edition.
• Use a spreadsheet to perform the calculations. Please use full accuracy (no rounding)
in all calculations since rounding may significantly affect your results.
• Small letters refer to deviations from the means as in 𝑥 = 𝑋 − 𝑋̅ and 𝑦 = 𝑌 − 𝑌̅.
2
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