Use the data in TRAFFIC2 for this exercise. (i) Run an OLS regression of prcfat on a linear time trend, monthly dummy variables, and the variables wkends, unem, spdlaw, and beltlaw. Test the errors for AR(1) serial correlation using the regression in equation (12.20). Does it make sense to use the test that assumes strict exogeneity of the regressors?
(ii) Obtain serial correlation–and heteroskedasticity-robust standard errors for the coefficients on spdlaw and beltlaw, using four lags in the Newey-West estimator. How does this affect the statistical significance of the two policy variables?
(iii) Now, estimate the model using iterative Prais-Winsten and compare the estimates with the OLS estimates. Are there important changes in the policy variable coefficients or their statistical significance?

Abigail spent $100 on a new edition of the personal finance textbook rather than $75 for a used copy. the additional cost for the new copy is called the

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Exercise 4-6 the following balances were taken from the books of alonzo corp. on december 31, 2017. interest revenue $86,000 accumulated depreciation—equipment $40,000 cash 51,000 accumulated depreciation—buildings 28,000 sales revenue 1,380,000 notes receivable 155,000 accounts receivable 150,000 selling expenses 194,000 prepaid insurance 20,000 accounts payable 170,000 sales returns and allowances 150,000 bonds payable 100,000 allowance for doubtful accounts 7,000 administrative and general expenses 97,000 sales discounts 45,000 accrued liabilities 32,000 land 100,000 interest expense 60,000 equipment 200,000 notes payable 100,000 buildings 140,000 loss from earthquake damage 150,000 cost of goods sold 621,000 common stock 500,000 retained earnings 21,000 assume the total effective tax rate on all items is 34%. prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. (round earnings per share to 2 decimal places, e.g. 1.48.)