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    Computing and Data Analysis EC125 - Assignment 1

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    Samantha Logan
    This document contains sample questions and responses for an assignment on computing and data analysis. It includes: 1) Descriptions of variables and statistical models, including linear regression models with binary indicator variables. 2) The definition of expected value and how it can be used to calculate the expected value of the sum of two random variables. 3) An economic model that maximizes utility subject to a budget constraint. 4) A diagram showing efficient allocation of study time with marginal costs and benefits.

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    Computing and Data Analysis EC125 - Assignment 1

    Uploaded by

    Samantha Logan
    16 views2 pages
    This document contains sample questions and responses for an assignment on computing and data analysis. It includes: 1) Descriptions of variables and statistical models, including linear regression models with binary indicator variables. 2) The definition of expected value and how it can be used to calculate the expected value of the sum of two random variables. 3) An economic model that maximizes utility subject to a budget constraint. 4) A diagram showing efficient allocation of study time with marginal costs and benefits.

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    CDA Equations

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    This document contains sample questions and responses for an assignment on computing and data analysis. It includes: 1) Descriptions of variables and statistical models, including linear regression models with binary indicator variables. 2) The definition of expected value and how it can be used to calculate the expected value of the sum of two random variables. 3) An economic model that maximizes utility subject to a budget constraint. 4) A diagram showing efficient allocation of study time with marginal costs and benefits.

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    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    16 views2 pages

    Computing and Data Analysis EC125 - Assignment 1

    Uploaded by

    Samantha Logan
    This document contains sample questions and responses for an assignment on computing and data analysis. It includes: 1) Descriptions of variables and statistical models, including linear regression models with binary indicator variables. 2) The definition of expected value and how it can be used to calculate the expected value of the sum of two random variables. 3) An economic model that maximizes utility subject to a budget constraint. 4) A diagram showing efficient allocation of study time with marginal costs and benefits.

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    0932075

    Computing and Data Analysis


    EC125 - Assignment 1

    Question 1

    0 if individual is male
    xi  
    (a) 1 if individual is female
    3
    1 if in quarter j
    yt    1 x1t   2 x1t 1    j Q jt   t , where Q jt  
    (b) j 1 0 otherwise

     1  2   n 1 
     
      1    n2 
        
     n2 
       1  
     n1 2  1 
    (c) 

    ln  Poli   32.45  0.218agei  0.0015agei2  3.674malei  2.139 ln(inci )  0.859 Degreei  ei

    (d) (0.064) (0.0009) (0.991) (0.873) (0.345)


    where:
    Pol = Index of political persuasion where 0 is most left wing and 100 most right wing,
    age = Age of individual
    male = 1 if male, 0 if female,
    inc = Gross annual income in £000s,
    Degree = 1 if holds at least a first degree, 0 otherwise.

    E  X  Y    ( x  y ) p ( x, y )   xp ( x, y )   yp ( x, y )
    (e) x y x y x y

     x  p( x, y)   y  p( x, y)   xp( x)   yp( y)  E ( X )  E (Y )
    x
    y     y
    x     x y

    p ( x) p( y)

    n
    max U ( x1 , x2 ,..., xn ) s.t.
    x1,..., xn
    px i i
     M ; xi  0 (i  1, 2,..., n)
    (f) i 1
    0932075

    Figure 1 - Efficient study time allocation


    mpc
    Question 2

    (a)

    mpc mpq b
    mpccs
    mpc a

    0 tcs tc*

    a
    mpc* mpq*
    mpq

    0 tc* tcs t

    (b)

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