| Midterm Excel Questions | (Computer Exercise 2.2) | |||||||||||||||||
| Fill in the yellow shaded cells. Each cell is worth 3 points. | ||||||||||||||||||
| Predicted values in question (v) are 3 points for the entire column for each model. That is, 3 points for the column for model (iii) and 3 points for the column for model (iv). This is all-or-none question | ||||||||||||||||||
| Each figure in question (v) is worth 3 points. | ||||||||||||||||||
| The data set CEOSAL2 contains information on chief executive officers for U.S. corporations. | ||||||||||||||||||
| The variable salary is annual compensation, in thousands of dollars, and ceoten is prior number of years as company CEO, and profits in millions of dollars | ||||||||||||||||||
| (i) Find the average salary and the average tenure in the sample. | ||||||||||||||||||
| average salary= | ||||||||||||||||||
| average tenure= | ||||||||||||||||||
| (ii) How many CEOs are in their first year as CEO (that is, ceoten=0)? What is the longest tenure as a CEO? | Use appropriate Excel commands, not just counting from the data with your eyes | |||||||||||||||||
| Number of CEOs in the first year= | ||||||||||||||||||
| Longest tenure= | ||||||||||||||||||
| (iii) Estimate the simple regression model log(salary)=beta0+beta1*ceoten+u | ||||||||||||||||||
| beta0= | use intercept( ) | |||||||||||||||||
| beta1= | use slope( ) | |||||||||||||||||
| SSR= | ||||||||||||||||||
| R2= | SSRu = | SSRr= | Compute SSRuand SSRrfirst, and then compute R2 | |||||||||||||||
| (approximate) predicted percentage increase in salary given one more year as a CEO= | percent | |||||||||||||||||
| (iv) You wish to compare the explanatory power of ceoten and profits. | ||||||||||||||||||
| Estimate the simple regression model log(salary)=beta0+beta1*profits+u | ||||||||||||||||||
| beta0= | ||||||||||||||||||
| beta1= | ||||||||||||||||||
| SSR= | ||||||||||||||||||
| R2= | SSRu = | SSRr= |
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