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Linear regression problem

  1. Oct 21, 2009 #1
    1. The problem statement, all variables and given/known data
    Evaluate the partial effect of age of a firm on growth.(evaluated at the means)


    2. Relevant equations

    Growth=[tex]\beta[/tex]0+[tex]\beta[/tex]1age+[tex]\beta[/tex]2age^2+[tex]\beta3[/tex]size*age+[tex]\beta[/tex]4plant*age


    3. The attempt at a solution

    We're supposed to do something like this:
    Growth=[tex]\beta[/tex]0+[tex]\beta[/tex]1age+[tex]\beta[/tex]2(age-[tex]\mu[/tex]a)^2+[tex]\beta[/tex]3(size-[tex]\mu[/tex]s)*(age-[tex]\mu[/tex]a)+[tex]\beta[/tex]4(plant-[tex]\mu[/tex]p*(age-[tex]\mu[/tex]a)

    or

    Growth=[tex]\beta[/tex]0+[tex]\beta[/tex]1age+[tex]\beta[/tex]2age^2+[tex]\beta[/tex]3(size-[tex]\mu[/tex]s)*(age-[tex]\mu[/tex]a)+[tex]\beta[/tex]4(plant-[tex]\mu[/tex]p*(age-[tex]\mu[/tex]a)

    =[tex]\beta[/tex]1+2[tex]\beta[/tex]2age

    =[tex]\beta[/tex]1+2[tex]\beta[/tex]2[tex]\mu[/tex]
     
    Last edited: Oct 21, 2009
  2. jcsd
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