ECON 312 Midterm: ECON312 Midterm22Fall2015solution
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Instructions: this is closed book, closed notes exam, no calculators of any kind are allowed, show all the steps and calculations, if you need more space, use the back of the page, fully label all graphs. Hillary studies the factors that a ect the results of presidential elections in the united states. She collected data on 33 presidential elections (from 1880 - 2008), with the following key variables: Variable vote duration growth inflation in(cid:135)ation rate (in %) in (cid:133)rst 15 quarters of administration. % vote for incumbent party of the two-party presidential vote* number of terms incumbent administration in power growth rate of gdp (in %) in (cid:133)rst three quarters of the election year. * two-party means democratic and republican, and incumbent means the party in power at the time of the elections. Hillary(cid:146)s r command and regression output are given below. (a) write the (cid:133)tted equation for the estimated model, and substitute the estimated values.
