• October 31st, 2015

Data Retrieval and Analysis—- Survey of Consumer Finances

Assignment Requirements

Purpose

The purpose of this assignment is to provide you with an opportunity to do several things:

  • Search for and retrieve economic data
  • Use economic theory to construct an hypothesis
  • Specify an econometric model to test your hypothesis
  • Test regression model for CLR violations

Instructions

  1. Use the attached table to identify the data set you have been assigned
  2. Use economic theory to form an hypothesis regarding the relationship between

two variables found in your dataset

  1. Specify and estimate a regression that will allows you to test your hypothesis

using observations from your dataset. Explain choice of dependent and RHS

variables. Define all variables.

  1. Carry out diagnostic tests on your estimated equation based on potential CLR

violations

  1. Test your hypothesis
  2. Report results of estimation and tests. Results should include estimated

regression, any diagnostics tests, hypothesis tests and descriptive statistics of

regression variables.

 

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