ECOM20001: Typical Observation in the Datasets - Density Plots - Econometric Assessment Answer

Econometric Assessment Task

Assignment Questions

1. Report summary statistics for west, early2000, murder_rate, rape_rate, robbery_rate. Interpret each of the means in plain language, thereby characterising a typical observation in the dataset. Your discussion should be no more than three sentences long.

 2. Compute 95% confidence interval for the mean of rape_rate and construct a histogram for rape_rate. Provide a brief discussion of your findings. Your answer should be no more than two sentences long. 3. Construct the following density plots:

- Plot 3a: display 2 separate densities for the murder rate in the late 2000s (early2000=0) and early 2000s (early2000=1) within the same graph. o In other words, the 2 different density plots for the murder rate for the early and late 2000s should be overlaid with each other such that the densities for the murder rate in these respective periods are easily comparable visually.

- Plot 3b: display 2 separate densities for the rape rate in the late 2000s (early2000=0) and early 2000s (early2000=1) within the same graph.

- Plot 3c: display 2 separate densities for the vehicle theft rate in the late 2000s (early2000=0) and early 2000s (early2000=1) within the same graph. Provide a brief interpretation of your findings in Plots 3a, 3b, and 3c. Does the murder, rape and vehicle theft rates appear to be systemically different between the two time periods?

Your answer should be no more than four sentences long. Tip: make sure your plot the density for the late 2000s precedes the one for the early 2000s in your code to avoid any truncation of the plots (due to the y-axis having too small a range).

4. Construct the following density plots: - Plot 4a: display 2 separate densities for the rape rate in the Western states (west=1) in the late 2000s (early2000=0) and early 2000s (early2000=1) within the same graph.

- Plot 4b: display 2 separate densities for the rape rate in the Eastern states (west=0) in the late 2000s (early2000=0) and early 2000s (early2000=1) within the same graph. - Plot 4c: display 2 separate densities for the vehicle theft rate in the Western states (west=1) in the late 2000s (early2000=0) and early 2000s (early2000=1) within the same graph.

Assignment 1, ECOM20001: Econometrics 1 5 - Plot 4d: display 2 separate densities for the vehicle theft rate in the Eastern states (west=0) in the late 2000s (early2000=0) and early 2000s (early2000=1) within the same graph.

Provide a brief interpretation of your findings in Plots. Discuss differences in the rape and vehicle theft rate distributions between the Western and Eastern states and between the early and late 2000s. Your answer should be no more than six sentences long.

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