To Analyze the Year-To-Year Variation in Temperature Data for a Given

question 38

Essay

To analyze the year-to-year variation in temperature data for a given city, you regress the daily high temperature (Temp) for 100 randomly selected days in two consecutive years (1997 and 1998) for Phoenix. The results are (heteroskedastic-robust standard errors in parenthesis):
$$\begin{aligned}\widehat { T e m p _ { 1998 } ^ { P H X } } = & 15.63 + 0.80 \times \operatorname { Temp } _ { 1997 } ^ { P H X } ; R ^ { 2 } = 0.65 , S E R = 9.63 \\& ( 0.10 )\end{aligned}$$ (a)Calculate the predicted temperature for the current year if the temperature in the previous
year was 400F, 780F, and 1000F.How does this compare with you prior expectation?
Sketch the regression line and compare it to the 45 degree line.What are the
implications?

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