Economist
an Economist Is in the Process of Developing a Model

question 65

Short Answer

Economist
An economist is in the process of developing a model to predict the price of gold.She believes that the two most important variables are the price of a barrel of oil (x₁)and the interest rate (x₂).She proposes the first-order model with interaction $$y = \beta _ { 0 } + \beta _ { 1 } x _ { 1 } + \beta _ { 2 } x _ { 2 } + \beta _ { 3 } x _ { 1 } x _ { 2 } + \epsilon$$ A random sample of 20 daily observations was taken.The computer output is shown below. The regression equation is:
$$y = 115.6 + 22.3 x _ { 1 } + 14.7 x _ { 2 } - 1.36 x _ { 1 } x _ { 2 }$$
$\begin{array}{|l|ccc|}\hline \text { Predictor } & \text { Coef } & \text { SE Coef } & \text { T } \\\hline \text { Constant } & 115.6 & 78.1 & 1.480 \\x_{1} & 22.3 & 7.1 & 3.141 \\x_{2} & 14.7 & 6.3 & 2.333 \\x_{1} x_{2} & -1.36 & 0.52 & -2.615 \\\hline\end{array}$

$$\mathrm { S } = 20.9 \quad \mathrm { R } - \mathrm { Sq } = 55.4 \%$$
ANAL YSIS OF VARIANCE
$\begin{array}{|l|llll|}\hline \text { Source of Variation } & \text { DF } & \text { SS } & \text { MS } & \text { F } \\\hline \text { Regression } & 3 & 8661 & 2887.0 & 6.626 \\\text { Error } & 16 & 6971 & 435.7 & \\\hline \text { Total } & 19 & 15632 & & \\\hline\end{array}$

-Is there sufficient evidence at the 1% significance level to conclude that the interaction term should be retained?
Test statistic = ____________________ = ____________________
Critical Value = ____________________
Conclusion: _______________________
Interpretation: __________________________________________________

Identify the use and mechanisms of behavior modification techniques, including token economies.

Acknowledge the development and therapeutic goals of dialectical behavior therapy.

Understand the role of counterconditioning in treating anxiety and other disorders.

Recognize cultural and systemic barriers to psychotherapy for ethnic minorities.

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Definitions:

Hyperactivity

is an abnormal level of activity, often indicative of attention-deficit hyperactivity disorder (ADHD), characterized by excessive movement and difficulty with impulse control.

Physical Activity

Any bodily movement produced by skeletal muscles that requires energy expenditure, including activities undertaken while working, playing, or exercising.

Encouragement

The act of giving support, confidence, or hope to someone, often leading to increased motivation or positivity.

Competitive Games

Games designed with the objective of players or teams competing against each other to achieve victory, promoting skills such as strategic thinking and teamwork.