Predicting debt in 2010 from debt in 2009. Continue your
Chapter , Problem 16.57(choose chapter or problem)
Predicting debt in 2010 from debt in 2009. Continue your study of the relationship between debt in 2009 and debt in 2010 for 33 countries, begun in Exercise 16.53. Run the regression to predict debt in 2010 using debt in 2009 as the explanatory variable. DEBT (a) Plot the residuals against the explanatory variable and make a Normal quantile plot of the residuals. Do the residuals appear to be Normal? Explain your answer. (b) Examine the shape and bias of the bootstrap distribution of the slope b1 of the least-squares line. Does this distribution suggest that even the bootstrap t interval will be accurate? Give a reason for your answer. (c) Find the standard 95% t confidence interval for b1 and also the BCa, bootstrap t, and bootstrap percentile confidence intervals. What do you conclude about the accuracy of the two t intervals?
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