# ECN 601 Grand Canyon Week 2 Complete Work (January 2016)

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ECN 601 Grand Canyon Week 2 Complete Work (January 2016)

ECN601

ECN 601 Grand Canyon Week 2 Discussion 1 (January 2016)

Selecting a complete set of independent variables is always an issue when using regression analysis to estimate demand. For example, analysts often use price and advertising to estimate quantity demanded. However, how do they know that these two variables were sufficient? How do we know that we didn’t omit other variables which would have had a significant impact on demand? How do we know that we didn’t include variables that were not needed? Explain how analysts would answer such questions.

ECN 601 Grand Canyon Week 2 Discussion 2 (January 2016)

Suppose you want to use regression analysis to estimate the selling price of single family homes in a given neighborhood. You assemble data on selling price, square footage, number of bedrooms, number of bathrooms, age of the house, and lot size. Which variable(s) are dependent? Which are independent? For each independent variable you listed, indicate whether you would expect the sign of that variable to be positive or negative, and why.

ECN 601 Grand Canyon Week 2 Assignment (January 2016)

Chapter 4 Problems

Details:

Complete the following:

1-    Chapter 4, Technical Question 3 in the textbook.

2-    Chapter 4, Application Question 3 in the textbook.

3-    Complete the “ECN-601 Extended Problem” attached to the assignment. Use the data provided in “ECN-601 Extended Problem Data” to complete the problem.