Question 7 Consider this estimated equation log(y) = 2 + .1 x1 + .02 x1 x2 The c
ID: 3049056 • Letter: Q
Question
Question 7
Consider this estimated equation
log(y) = 2 + .1 x1 + .02 x1 x2
The change in log(y) for a change in x1 is
.1 +.02 x1
.1 +.02 x2
2.1 +.02 x2
.1 +.04 x2
.1 -.02 x2
02 x2
Question 8
Consider this estimated equation
log(y) = 2 + .1 x1 + .02 x1 x2
The predicted value of y when x1 = 4 and x2 = 8 is
2.9
20.9
36.7
47.9
30.1
18.5
Question 9
Consider this estimated equation
log(y) = 2 + .1 x1 + .02 x1 x2
The predicted value of y when x1 = 5 and x2 = 8 is
27.11
7.11
63.87
17.37
9.85
Question 10
Consider this estimated equation
log(y) = 2 + .1 x1 + .02 x1 x2
The percentage change in y when x1 goes from 4 to 5 (for x2 = 8) is
13.75%
54.10%
29.69%
36.17%
-27.11
.1 +.02 x1
.1 +.02 x2
2.1 +.02 x2
.1 +.04 x2
.1 -.02 x2
02 x2
Explanation / Answer
7)
.1 +.02 x2
8) The predicted value of y =e2+0.1*4+0.02*4*8 =20.9
9) predicted value of y =e2+0.1*5+0.02*5*8 =27.11
10) percentage change in y =(27.11-20.9)*100/20.9 =29.69%
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