11:42 1. Suppose the OLS fitted line explaining college GPA in terms of high school GPA and ACT score is ColGPA 1.29+0.453hsGPA +0.0094 ACT (1) (15 points) Please interpret the constant term, and the two slopes (2) (10 points) If the average high school GPA is about 3.4 and the average ACT score is about 24.2, what is the average college GPA in the sample? 2. (10 points) Let community loan approval rates be determined by apprate = Bo+Bpercmin + Bavginc + avgwlth + 4avgdebt + u Where percmin is the percentage minority in the community, avginc is average income, avgwlth is average wealth, and avgdebt is some measure of average debt obligations. How do you state the null hypothesis that there is no difference in loan rates across neighborhoods due to racial and ethnic composition, when average income, average wealth, and average debt have been controlled for? How do you state the alternative that there is discrimination against minorities in loan approval rates? 3. (10 points) Suppose you estimate a regression model and obtain B =0.56 and p-value =0.086 for testing Ho: B = 0 against Ho: B = 0. What is the p-value for testing Ho: B = 0 against H: B> 0 4. (10 points) For following regressions, what is the t statistic for the coefficient on ACT? atndrte = 47.13 + 13.37 priGPA (2.87) (1.09) n = 680; R2 = 0.183 atndrte 75.7 + 17.26 priGPA - 1.72ACT (3.88) (1.08) n=680; R2 = 0.291 (?) 5. (10 points) In a regression model with a large sample size, what is an approximate 95% confidence interval for B; under MLR.1 through MLR.5? elearning.sjtu.edu.cn