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Computing and Data Analysis EC125 - Assignment 1

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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Samantha Logan
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24 views2 pages

Computing and Data Analysis EC125 - Assignment 1

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.

Uploaded by

Samantha Logan
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
Download as docx, pdf, or txt
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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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