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Consider the two graphs of data with an estimated line of best fit below
Consider the two graphs of data with an estimated line of best fit below. Which of the two graphs, if either, is more likely to feature an unbiased estimate of the slope coefficient? Please explain your reasoning. [4 marks] 1 Graph A Graph B ? CO CO LO -2 4 8 -2 8 0 2 6 Log total slave exports normalized by land area 0 2 6 Log total slave exports normalized by land area 1 8 1 Here is the associated regression output from the two graphs: 1 1 Graph As In(slave exports/area) -0.1181 (0.025) R2g 0.318 Number of observations 528 g Graph Be -0.1181 (0.012) 0.648 528 g.
Expert Solution
Tthe standard error of the sampling distribution of the slope is given as follows:
SE = sb1 = sqrt [ Σ(yi - ?i)2 / (n - 2) ] / sqrt [ Σ(xi - x)2 ]
By observing the figures we can see that the actual y values are far apart from the predicted y values in figure A than in figure B. Therefore Standard error of Figure B will lesser than that of figure A, and hence the Figure B will most likely feature an unbiased estimate of the slope cofficient.
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