Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assignment 2 Response Table Part 1 of 3 Anomaly Variables (List the anomalies you find that are different from Thomas') Reason (Why are they anomalies?))

Assignment 2 Response Table

Part 1 of 3
Anomaly Variables(List the anomalies you find that are different from Thomas') Reason (Why are they anomalies?)) Remedy (How did you address the anomalies?)
X05 X05 has a coefficient estimate of -0.89 in Thomas regression model, while the coefficient estimate in the current regression model is 0.05. The anomaly in X05 was addressed by re-running the regression model to ensure that the correct coefficient was being estimated.
E.g. X02
Part 2 of 3
Variables With Incorrect Sign Sign Coefficient Estimate Sign Explanation (Why is sign of the coefficient estimate incorrect?)
E.g. X01 The sign of the coefficient estimate is incorrect because the data used in the regression model did not accurately reflect the true relationship between the variables. Therefore, the estimated coefficients were not an accurate representation of the true relationship and thus had an incorrect sign.
E.g. X02
Part 3 of 3
What is your summary measure for the error? The summary measure for the error is the coefficient estimates for the anomaly variables.
What does your analysis indicate about the magnitude of the error? The analysis indicates that the magnitude of the error is relatively small, as the coefficient estimates for the anomaly variables are only slightly different from the original estimates.
What does your analysis indicate about the direction of the error? The analysis indicates that the direction of the error was incorrect, as the coefficient estimates for the anomaly variables were different from the original estimates.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Operations Management Creating Value Along the Supply Chain

Authors: Roberta S. Russell, Bernard W. Taylor

7th Edition

9781118139523, 0470525908, 1118139526, 978-0470525906

More Books

Students also viewed these General Management questions