Project #97959 - Would send data after confirming.

Wildcats are wells drilled to find and produce oil and/or gas in an improved area or to find a new reservoir in a field previously found to be productive of oil or gas or to extend the limit of a known oil or gas reservoir. 

 

The variables in the table are defined as follows:

 

            Y = the number of wildcats drilled

            X2 = the price of the wellhead in the previous period 

        (In constant dollars: 1980 = 100)

            X3 = domestic output

            X4 = GNP at constant dollars (1980 = 100)

            X5 = trend variable, 1948 = 1, 1949 = 2, …1978 = 31

 

Consider the regression model based on this equation:       

                           

Yt = b1 + b2X2t + b3X3t b4X4t + b5X5t + u t    --- (1)

 

(a)     Run the regression equation (1) above in EViews 8 and show the regression result.

[3 marks]

 

(b)       Explain the regression equation (1) above in terms of economic relationship between the dependent and independent variables. State and explain the expected signs of the coefficients of this model?

 [5 marks]

 

(c)       Interpret the OLS regression results shown above in terms of:

(i)              Economic interpretation of the results.

[8 marks]

(ii)            Econometric/statistical interpretation of the results.

[6 marks]

 

(d)       Are the empirical results in accordance with prior expectations? Explain

Subject Business
Due By (Pacific Time) 12/09/2015 12:00 am
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