Ecotrics Simple Problem

[Ashima]

Sum Y= 1110
Sum X = 1680
Sum XY = 204200
SUM X^2= 315400
SUM Y^2= 133,300

Now I have calculated the b1 and b2 as 21.22 and .5344 resp.

How can i calculate the Standard errors for b1 and b2. I mean i know I need sigma and for sigma I need sum e^2. But how on earth should I calculate e^2? Can someone please help.

Basically the regression line is coming out of be: Y (cap) = 21.22 + .5344X 

[phelps.phan]

Hi Ashima I might be wrong,
Why do u need the sum e^2?
σ^2 is just calculated the usual way right. exp(x^2)-(exp x)^2 which u can find with ur given values.
The standard error for the regression coefficients= σ/root(sum(x^2)). why bother about e^2.

[econ14]

hey for that u just need to calculate tss and ess
Tss-Ess = Rss(sum ei^2)

sumei^2 = sum yi^2 - b2^2.sumxi^2.    (note:x and y are small)

[econ14]

[kangkan]

@ sandeep..how did u get n=10?

[econ14]

hey kangkan this question is from gujarati n=10 is given in the question

[phelps.phan]

Ashima/sandeep can u specify which problem/chapter of Gujarati this problem is in. thanks

[Ashima]

Thanks a tonne Sandeep:)

Phelps this is problem 3.9 in Gujarati:)