Question

The cases for the following equation are the states of the United States.

Quality of Life = 5.37 - .01Temp + .05Income +.003SocialServices - .01Population.

Let’s pretend that the Temperature in North Dakota is 30 degrees and the temperature in Texas is 80 degrees (on average). Now let’s assume that there aren’t any variables that were left out of the equation (i.e., no other variables affect Quality of Life). Is it safe to assume that the quality of life in North Dakota is half a point worse than the quality of life in Texas? Please explain why or why not.

If the elasticity doesn’t change between two variables, what should you do to measure this association?

Answer #1

The cases for the following equation are the states of the
United States. Quality of Life = 5.37 - .01Temp + .05Income
+.003SocialServices - .01Population. Let’s pretend that the
Temperature in North Dakota is 30 degrees and the temperature in
Texas is 80 degrees (on average). Now let’s assume that there
aren’t any variables that were left out of the equation (i.e., no
other variables affect Quality of Life). Is it safe to assume that
the quality of life in...

The cases for the following equation are the states of the
United States.
Quality of Life = 5.37 - .01Temp + .05Income +.003SocialServices
- .01Population.
Let’s pretend that the Temperature in North Dakota is 30 degrees
and the temperature in Texas is 80 degrees (on average). Now let’s
assume that there aren’t any variables that were left out of the
equation (i.e., no other variables affect Quality of Life). Is it
safe to assume that the quality of life in...

The cases for the following equation are the states of the
United States.
Quality of Life = 5.37 - .01Temp + .05Income +.003SocialServices
- .01Population.
Let’s pretend that the Temperature in North Dakota is 30 degrees
and the temperature in Texas is 80 degrees (on average). Now let’s
assume that there aren’t any variables that were left out of the
equation (i.e., no other variables affect Quality of Life). Is it
safe to assume that the quality of life in...

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