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代写data留学生作业 She finds it surprising because according to Econ101, the law of demand states that when price increases, quantity demanded decreases.
Homework 1
Submit only answers when turning in your homework. Do not copy questions.
1.For the following decisions, should one rely on prediction or causal inference? (Write down either “P” or “CI”.) (4 pointseach)
a)Acollege student decides whether to seek intern opportunities in the summer before his senior year.
b)A company has limited marketing budget. It needs to decide whether to advertise on TV or on the internet. 代写data留学生作业
c)A company decides whether to lay off part of the data science team.
d)Beforea Super Bowl game, Fanatics needs to decide how many championship T-shirtsof the two teams in the game to order, so that they can sell to fans immediately after the Super Bowl ends. Of course, if team A wins and team B loses, then none of the championship T-shirts of team B could be sold and must be discarded (business loss).
2.Explain the following terms (in <=2 sentences) (2.5 pointseach): 代写data留学生作业
a)Reversion to theMean:
b)Sample Selection:
c)Simultaneity:
d)Omitted VariableBias:
3.Work fromhome 代写data留学生作业
The CEO of a technology company needs to decide whether to allow employees to work from home (WFH). The CEO has data on other companies in the technology sector. In the data, CEO Approval Rate is a measure of CEO’s support from employees.
| Company_id | WFH | CEO_Approval Rate | Revenue |
| 1 | 0 | 65% | 548 |
| 2 | 0 | 71% | 511 |
| 3 | 1 | 87% | 1,367 |
| 4 | 0 | 49% | 765 |
| 5 | 0 | 61% 代写data留学生作业 | 781 |
| 6 | 1 | 84% | 2,871 |
| 7 | 1 | 81% | 885 |
| 8 | 1 | 82% | 913 |
| 9 | 0 | 69% | 186 |
| 10 | 0 | 66% | 945 |
a)What is the correlation between WFH and CEO approval rate across companies? (either positive or negative) (2points)
b)If the CEO wants an increased support from his employees, should he allow WFH? Why or why not? (hint: omitted variable bias, in <= 3 sentences) (10points)
c)What is the correlation between WFH and the company’s annual revenue? (either positive or negative) (3points) 代写data留学生作业
d)If the CEO wants an increased company revenue, should he allow WFH? Why or why not? (hint: simultaneity, in <= 3 sentences) (10points)
4.Taxis andUber 代写data留学生作业
4.1Both taxis and Uber allow consumers to complain about bad riding experience either through phone calls in the case of taxis, or through the app in the case of Uber. Data shows thatthe complaint rate for taxis is about 1 in 6,300 trips, whereas the complaint rate for Uber is about 1 in 170 trips. Based on these complaint rates, Amy concludes that taxis provide greater experience to
a)Do you agree with her? (Yes or No) (3points)
b)Why or why not? (<= 3 sentences) (10points) 代写data留学生作业
4.2 Uberdynamically adjusts the prices based on real-time market demand and To implement dynamic pricing, Uber’s algorithm calculates the “surge” multiplier.
For example, when the surge multiplier is 1.5X, it means that consumers need to pay 1.5 times the base fare. The following table reports surge multipliers and total completed trips, for a given location across time.
| Surge multiplier | Total completed trips |
| 1.4X | 120 |
| 1X (i.e., no surge) | 100 |
| 1.8X | 130 |
| 2.6X | 160 |
| 1.2X | 100 |
Amy finds a clear positive correlation between surge multipliers and total completed trips. She finds it surprising because according to Econ101, the law of demand states that when price increases, quantity demanded decreases.
a)Do you think the data defy the law of demand? (Yes or No) (3points)
b)What could be the omitted variable bias here? (hint: weather. <= 3 sentences) (10 points) 代写data留学生作业
c)What could be the simultaneity issue here (hint: Uber pricing algorithm. <= 3 sentences) (10points)
4.3 Uber has entered many cities in the United States over time. Here is a table of Uber’s entry decision and the crime rate of cities.
| City | Uber entry | Crime rate |
| A | 1 | 9% |
| B | 0 | 3% |
| C | 0 | 4% |
| D | 1 | 5.5% |
| E | 1 | 6% |
Amy sees a positive correlation between Uber’s entry decision and the city’s crime rate. She concludes that Uber’s entry has led to more crimes in the city.
a)Is this a correct conclusion? (Yes or No) (3points)
b)What could be the omitted variable bias here? (hint: Uber prefers to enter places with many passengers. <= 3 sentences) (10points)
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