OLS Regression STATA Output

Consider the following estimation from Microfit: Ordinary Least Squares Estimation  Dependent variable is LC (49 observations) used for estimation from (1950-1998): LC: Log of real customers expenditure in 1995 prices. LY: Log of real personal disposable income in 1995 prices. LP: Log of the consumer price index.   a) Briefly explain what the results tell … Continue reading OLS Regression STATA Output

Simple 4 Step T Test

The t-statistic was introduced in 1908 by William Sealy Gosset, a chemist working for the Guinness brewery in Dublin, Ireland. “Student” was his pen name. Gosset had been hired owing to Claude Guinness’s policy of recruiting the best graduates from Oxford and Cambridge to apply biochemistry and statistics to Guinness’s industrial processes. Gosset devised the t-test as an economical way to monitor the quality of stout.  When given a t-test question, we must first find the following: … Continue reading Simple 4 Step T Test