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Suppose that you are interested in estimating the link between the unem- ployment rate (unem), spending on law enforcement (lawexp), and number of crimes per 1,000 residents (crmrte). The following

Suppose that you are interested in estimating the link between the unem- ployment rate (unem), spending on law enforcement (lawexp), and number of crimes per 1,000 residents (crmrte). The following equation has been estimated using data on U.S. cities: crmrti = -59.9+ 0.05unem + 23.5 log(lawexp), n = 92, R = 0.0585. a. Interpret the coefficient on unem. Be specific. b. Interpret the coefficient on log(lawexp). Be specific. c. What are the units of measurement for the Rin this regression (number of crimes? percentage points? or is R2 unit-free)? Explain.

May 10 2021 View more View Less

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