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Using the data set data 7.14, Homacide across States, complete the following.
a. Estimate and report OLS parameter estimates for the equationMr=α+β1exec+β2south+β3ue+β4capital+β5pcy+ε
b. Plot mr on exec, mr on ue, and mr on pcy.
c. Plot the fitted values for mr on exec, mr on ue, and mr on pcy.
d. Plot the errors for errors on exec, errors on ue, and errors on pcy.
e. Do these errors on exec, ue, and pcy indicate homo or hetroskecastic error terms?
f. Propose and implement a test for homoskedastic error terms. What is the name of the test, and are OLS errors homoskedastic or hetroskedastic from your test? You can use GRETL to implement the test.
g. If these are hetroskedastic errors, what are the consequences on the model standard errors and t-statistics?h. Propose and implement an estimation technique to correct for hetroskedastic errors. Report your error correct parameter estimates.
Below is the txt format of the data:
mr exec south ue capital pcy
11.6 0 1 7.5 1 13.53
9 0 0 7.6 0 18.223
8.6 2 0 6.2 1 14.285
10.2 0 1 6.2 1 12.634
13.1 1 0 9.2 1 17.295
5.8 0 0 5.2 1 16.981
6.3 0 0 6.2 1 22.236
5 0 1 5.3 1 17.261
78.5 0 1 8.5 1 23.302
8.9 3 1 7 1 16.311
11.4 2 1 5.8 1 15.205
3.8 0 0 4.2 0 18.566
2.9 0 0 6.1 1 13.833
11.4 0 0 7.4 1 17.82
7.5 0 0 5.3 1 15.176
2.3 0 0 4 1 14.435
6.4 0 0 5 1 15.679
6.6 0 1 6.2 1 13.34
20.3 1 1 7.4 1 13.122
1.6 0 0 7.9 0 14.834
12.7 0 1 6.2 1 18.885
3.9 0 0 6.9 1 19.281
9.8 0 0 7 0 16.259
3.4 0 0 5.1 0 16.571
13.5 0 1 6.3 1 11.647
11.3 4 0 6.4 1 15.448
3 0 0 6 1 13.725
11.3 0 1 4.9 1 14.747
1.7 0 0 4.3 0 13.485
3.9 0 0 2.6 1 15.539
10.4 0 0 7.2 1 18.084
2 0 0 6.6 0 17.66
5.3 0 0 7.4 1 21.229
8 0 0 7.5 1 12.912
13.3 0 0 7.7 1 19.608
6 0 0 6.5 1 15.558
8.4 0 1 6 1 13.449
4.6 0 0 7.2 1 15.353
6.8 0 0 7 1 16.8
3.9 0 0 7.7 0 16.78
10.3 0 1 7.5 1 13.318
3.4 0 0 3.5 1 14.122
10.2 0 1 5.7 1 14.565
11.9 17 1 7 1 15.122
3.1 0 0 3.9 1 12.746
3.6 5 0 5.4 1 15.353
8.3 1 1 5 1 17.103
6.9 0 1 10.8 1 12.772
5.2 0 0 7.5 1 17.199
4.4 0 0 4.7 0 15.645
3.4 0 0 5.4 1 15.576
 
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