Let us modify Computer Exercise C4 in Chapter 8 by using voting outcomes in 1990 forincumbents…

Let us modify Computer Exercise C4 in Chapter 8 by using voting outcomes in 1990 forincumbents who were elected in 1988. Candidate A was elected in 1988 and was seekingreelection in 1990; voteA90 is Candidate A’s share of the two-party vote in 1990. The 1988voting share of Candidate A is used as a proxy variable for quality of the candidate. Allother variables are for the 1990 election. The following equations were estimated, usingthe data in VOTE2.RAW:?voteA90 5 75.71 1 .312 prtystrA 1 4.93 democA(9.25) (.046) (1.01)2.929 log(expendA) 2 1.950 log(expendB)(.684) (.281)n 5 186, R2 5 .495, -R2 5 .483,and?voteA90 5 70.81 1 .282 prtystrA 1 4.52 democA(10.01) (.052) (1.06) 2.839 log(expendA) 2 1.846 log(expendB) 1 .067 voteA88(.687) (.292) (.053)n 5 186, R2 5 .499, -R2 5 .485.

(i) Interpret the coefficient on voteA88 and discuss its statistical significance.(ii) Does adding voteA88 have much effect on the other coefficients?

 

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