Module Code: LUR 85000M Section B-worth 60% of the overall mark Answer all questions QUESTION 1 Part A) The standard error of provides a measure of the accuracy with which the cooflidents Bare estimated. Docuse the three factors that affect whether is an accurate estimate of the true . (4 marks) Part 3) The local government in Leeds is worried about the increasing amount of waste households in its city are producing. In order to gain a better understanding of what factors influence the amount of waste each household produces, consultants have gathered data from a random sample of 400 households on their average weekly waste, alongside Information on the number of people living in the household, household income, whether anyone in the household works from home and whether the household has signed up to the Make Leeds Greener'initiative. The consultants have provided you with the following OLS output and asked you to provide a full discussion and interpretation of the statistical output ANOVA Model Dr Mean Square F Sum of Squares 1470500 1 Regression Sig .000 4 367625 109.97 Residual 1320500 395 334304 Total 2791000 Unstandardized Coefficients Model B Sid Error 1 -0.098 (Constant Household size 0.054 0.300 0084 Household come 0,105 0.039 Homework 1,054 0 099 Concern for Environment - 375 0.221 Page 4 of 6 w P9 enovo e Module Code: LURS5000M Where the dependent variable: Household average woollywoote (on) and the independent variables are Householdste - number of people living in the household Household Income - salary in 2000's Home work - someone working from home (1): no one working from home (Ok Concern for Environment - member of Make Leeds Greener (1 not a member (0) You are asked to answer the following questions Explain what the F-test is testing for in multiple regression models Interpret the relevant evidence in the OLS output (3 marks) Use the information above to calculate the statistic. Explain your findings (3 marks) . Which of the explanatory variables are statistically significant at the 1% level of significance and which are not? Explain the test' have you used to establish this and explain what it is testing for (8 marks) IN Give a full written interpretation of each coefficient estimate (6 marks) V What is multicolinearity and what are its consequences? (3 marks) VI. if the tolerance VIF value on the household income variable is 0.323.13 explain what this value means? (3 marks) (30 marks in tota Page 5 of 5 W TIRE enovo Module Code: LUR 85000M Section B-worth 60% of the overall mark Answer all questions QUESTION 1 Part A) The standard error of provides a measure of the accuracy with which the cooflidents Bare estimated. Docuse the three factors that affect whether is an accurate estimate of the true . (4 marks) Part 3) The local government in Leeds is worried about the increasing amount of waste households in its city are producing. In order to gain a better understanding of what factors influence the amount of waste each household produces, consultants have gathered data from a random sample of 400 households on their average weekly waste, alongside Information on the number of people living in the household, household income, whether anyone in the household works from home and whether the household has signed up to the Make Leeds Greener'initiative. The consultants have provided you with the following OLS output and asked you to provide a full discussion and interpretation of the statistical output ANOVA Model Dr Mean Square F Sum of Squares 1470500 1 Regression Sig .000 4 367625 109.97 Residual 1320500 395 334304 Total 2791000 Unstandardized Coefficients Model B Sid Error 1 -0.098 (Constant Household size 0.054 0.300 0084 Household come 0,105 0.039 Homework 1,054 0 099 Concern for Environment - 375 0.221 Page 4 of 6 w P9 enovo e Module Code: LURS5000M Where the dependent variable: Household average woollywoote (on) and the independent variables are Householdste - number of people living in the household Household Income - salary in 2000's Home work - someone working from home (1): no one working from home (Ok Concern for Environment - member of Make Leeds Greener (1 not a member (0) You are asked to answer the following questions Explain what the F-test is testing for in multiple regression models Interpret the relevant evidence in the OLS output (3 marks) Use the information above to calculate the statistic. Explain your findings (3 marks) . Which of the explanatory variables are statistically significant at the 1% level of significance and which are not? Explain the test' have you used to establish this and explain what it is testing for (8 marks) IN Give a full written interpretation of each coefficient estimate (6 marks) V What is multicolinearity and what are its consequences? (3 marks) VI. if the tolerance VIF value on the household income variable is 0.323.13 explain what this value means? (3 marks) (30 marks in tota Page 5 of 5 W TIRE enovo