Better GDP model? Consider again the post-1950 trend in U.S. GDP we examined in Exercise 57. Here

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Better GDP model? Consider again the post-1950 trend in U.S. GDP we examined in Exercise 57.

Here are a regression and residual plot when we use the log of GDP in the model. Is this a better model for GDP? Explain.

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Business Statistics

ISBN: 9780321716095

2nd Edition

Authors: Norean D. Sharpe, Paul F. Velleman, David Bock, Norean Radke Sharpe

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Question Posted: Sep 19, 2024 02:29 PM

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Better GDP model? Consider again the post-1950 trend in U.S. GDP we examined in Exercise 57. Here

Question:

Dependent variable is: LogGDP R-squared 99.4% s = 0.0150 Variable Coeff Intercept 3.29092 Year-1950 0.013881

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