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Question The problem requires the use of gretl. Please show all regression output that helped you reached your estimated regression equation. Please show all script
Question The problem requires the use of gretl. Please show all regression output that helped you reached your estimated regression equation. Please show all script utilized as well - for example in the case of forward selection methods. Dan is starting preliminary research on joblessness and he has asked for your help in developing a model. He provides you with data on variables that may be related to the number of weeks a person has been jobless due to a layoff (Dataset: Layoffs). The dependent variable is Weeks - defined as the number of weeks a person has been jobless due to a layoff. The following independent variables are described below Variable Description Age The age of the person Educ The number of years of education Married A dummy variable ; 1 if married ; 0 otherwise Head A dummy variable; 1 if the head of household; 0 otherwise Tenure The number of years on the previous job Manager A dummy variable; 1 if management occupation, 0 otherwise Sales A dummy variable ; 1 if sales occupation, 0 otherwise a) Develop the best one-variable estimated regression equation b) Use the backward elimination procedure to develop the best estimated regression equation. Use a = 0.05 c) Use the forward selection procedure to develop the best estimated regression equation. Use a = 0.05
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