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can someone help me answer questions 1 and 3 please? Thank you so much! I'll provide the both links needed below https://raw.githubusercontent.com/AlR0d/courses/main/4421/crime.csv https://www.jstor.org/stable/2109893 1. What
can someone help me answer questions 1 and 3 please? Thank you so much! I'll provide the both links needed below
https://raw.githubusercontent.com/AlR0d/courses/main/4421/crime.csv https://www.jstor.org/stable/2109893
1. What is the relationship between crime and punishment? This important question was examined by Cornwell and Trumbull' using a panel of data from North Carolina. The cross sections are 90 counties, and the data (crime.csv) are annual for the years 1981 through 1987. a. Read Cornwell, Christopher, and William N. Trumbull. "Estimating the Economic Model of Crime with Panel Data." The Review of Economics and Statistics (1994): 360-366, and write a brief summary of the authors' methodology and findings. b. Using the data from 1987, estimate a regression relating the number of police per capita polpc on the crime rate crmrte, the probability of an arrest prbarr (the ratio of arrests to offenses), the probability of conviction prbconv (the ratio of convictions to arrests), the probability of a prison sentence prbpris (the ratio of prison sentences to convictions), and the weekly wage in construction wcon. c. Write a summary of your findings. In your summary, explain what the values of the coefficients imply, i.e., explain the effect each variable has on police per capitaStep by Step Solution
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