代写Econometrics and Business Statistics (ECON634)

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Department of Economics

Econometrics and Business Statistics (ECON634)

Semester 2, 2016

Assignment

This assignment is worth 20% of your overall course mark. You are required to submit the assignment in both print and electronic copies by 4pm, Friday 28th October 2016. Assignments will NOT be marked if they are submitted in only one form.

o Electronic submission is via assignment dropbox on iLearn.

o Print copy with a signed assignment cover sheet (available on iLearn) will be due in the Business and Economics Student Services (BESS, E4B 106). On a cover sheet, a copy of which is available on iLearn for the course, clearly state the details required, including your name and student number.

Data can be found in Excel worksheet files on iLearn. You should include all relevant graphs and values generated in Excel and Eviews (e.g. if a question directs you to create and discuss a graph, you should include the graph itself as well as your discussion in your submitted assignment).

All numeric answers should be rounded to 3 decimal places as appropriate, clearly stating where rounding has been used. You should show all relevant calculations for questions. Marks may be deducted for failure to show working or calculations. Additionally, you should be careful to define all notation used. Marks may be deducted for unexplained notation.

Question 1 (20 marks)

Information on CEO salaries of 45 financial and 58 consumer product firms in 1990 is provided in salaries.xlsx. The variables in the data set are

financial: CEO salaries of financial firms in 1990 (thousands $)

consprod: CEO salaries of consumer product firms in 1990 (thousands $)

(a) [5 marks] Using Excel, calculate two sets of descriptive statistics: (i) for the CEO salaries of financial firms and (ii) for the CEO salaries of consumer product firms. Comment on the means and standard deviations of the outputs.

(b) [5 marks] Using Excel, construct two histograms: (i) for the CEO salaries of financial firms and (ii) for the CEO salaries of consumer product firms. Use class intervals of width 500, the value 500 as the upper limit of the first class, and the value 4500 as the upper limit of the last class. Comment on the shape of the histograms constructed.

Hint: Data/Data Analysis/Histogram/Input range (select the data range)/Bin Range (type the upper limit of each bin in a separate spreadsheet and select the range)/Chart Output.

(c) [5 marks] Test by hand at the 5% significance level whether the data support the assumption of equal population variances between the CEO salaries of financial firms and consumer product firms and confirm your test results using Excel (show the Excel output).

Hint: One can use the Excel formula FINV(probability, degree of freedom 1, degree of freedom 2) to find out the F critical values.

(d) [5 marks] Perform an appropriate test to examine the claim that CEOs who work for financial firms earn more than those who work for consumer product firms using a significance level of 10%. You can either use Excel or do hand calculation if appropriate.

Question 2 [17 marks]代写Econometrics and Business Statistics (ECON634)

The data in Sydney.xlsx was taken from the Australian Bureau of Statistics. It ranges

from 2001-2008 at a quarterly frequency. The data file contains the following

variables.

 drent: the annual rent growth rate in Sydney (%)

 dpop: the annual population growth rate in Sydney (%)

Import the data to Eviews.

(a) [3 marks] Plot drent using a line chart and briefly comment on the dynamics

of the rent growth rate in Sydney (peaks and troughs) based on the line chart.

(b) [3 marks] Draw a scatter diagram with drent on the vertical axis and dpop on

the horizontal axis using Eviews. Describe the relationship between the

population growth and the rent growth in Sydney based on the scatter

diagram.

1 2     t t t drent dpop

Write down the fitted equation (include t-statistics of the estimated model

parameters, sample size and R2 and show the Eviews output).

(d) [4 marks] Carefully interpret the estimated regression coefficients. Are they

consistent with your prior expectation?

(e) [4 marks] Examine the statistical properties of the residuals from part (c),

namely draw a scatter diagram with ˆt on the vertical axis and 1 ˆ  t on the

horizontal axis using Eviews. Describe the relationship between 1 ˆ  t and ˆt

based on the scatter plot. What is the implication of this observation?

Hint: in Eviews, the first lag of a random variable y, i.e. 1t y , is typed as y(-1).
代写Econometrics and Business Statistics (ECON634)