### Question Description

REGIONAL ECONOMICS FINAL EXAM

Mike Pogodzinski

Spring 2020

__INSTRUCTIONS:__ Complete the certification below. Answer the designated number of questions in each part of the exam. You can use your textbooks and other sources. You cannot consult with others about your answers. If you have questions about the exam, you can ask me via email or via Zoom. You should type your answers directly into the exam document. Return your completed exams and any supporting materials (graphs, tables, etc.) by email to j.m.pogodzinski@sjsu.eduby 11:59pm Sunday, May 17, 2020.

SOURCES: If you rely on sources other than the textbooks for the course, you *must*give complete bibliographic citations and follow appropriate methods for quoting or paraphrasing sources.

FILE NAMING CONVENTION: When you email your file, follow the file naming convention: LastName_FirstInitial_Exam_1.doc (E.g., Smith_J_Exam_1.doc).

CERTIFICATION: I have not received unauthorized assistance in completing this exam. _________(mark with X)

NAME:___________________________________

__PART A: Answer any 5of the questions A.1 – A.7. Do not answer additional questions. This part is worth 15% of the exam.__

Briefly *define*and give a specific *example*of:

A.1.Regression analysis

A.2.R2

A.3.Adjusted R2

A.4.t statistic

A.5.dummy variable

A.6.hedonic regression

A.7.logarithmic transformation

__PART B: Answer all 3 of the questions B.1 – B.3. This part is worth 30% of the exam.__

B.1.Explain how each of the following affects the bid-rent function/size of the city.

•Increase P

•Increase w

•Increase k

•Increase t

•Increase a

See Figure 1

B.2.According to Census Journey to Work data, which three counties are top destinations for commuters from Santa Clara County – not including Santa Clara County? Please list in order and list the estimated commuters based on 2011-2015 5-Year ACS Commuting Flows.

B.3.Describe two kinds of scale economies. What different implications do the two kinds of scale economies have for regional economic development?

__PART C: Answer questionC.1. This part is worth 55% of the exam.__

C.1.Describe the central economic concept you addressed in your term project and what insight it gave you on the basic policy issue addressed in the reading you reported on.

Figure 1

## Final Answer

I have't done section B.1 because of some missing information. Clarify it and get back to me. I can finish it in like 30 minutes

Running head: FINAL EXAM

1

Final Exam

Name

Institution

FINAL EXAM

2

FINAL EXAM

PART A

A.2 A statistical method representing a portion of the variance for a dependent variable on a

regression model. To calculate R2, we get the mean of the actual values, then determine the

distance from the actual values to the mean and compares it with that of estimated values to the

mean.

A.3 The adjusted R-squared compares the explanatory power of regression models that contain

different numbers of predictors. When comparing a five-predictor model with a higher R-squared

to a one-predictor model. Does the five predictor model have a higher R-squared because it’s

better? Or is the R-squared higher because it has more predictors? Simply compare the adjusted

R-squared values to find out!

A.4 T Statistic is used in a T-test when deciding to support or reject the null hypoth...

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