Computing expected Y value, given specific values of X I am given an OLS regression model with inflation rate as the outcome, and a set of variables and their coefficients, along with their SE.
The variables include money supply, unemployment rate, GDP growth rate, and an indicator variable called party where 1= a county run by a Republican and zero otherwise.
I am then asked to find the expected of Y: inflation rate, given specific values of each X variable of interest, and I am not mathematically sure how to compute that. For example, how can I derive the expected inflation rate when the value of the X variables as is follows:
Money supply= 2000
unemployment rate=7%
GDP growth rate=1.6%
A Democrat governor, so our party variable=0


An OLS model predicts the conditional expected value. Just plug in your numbers. You'll have some more parameters in your model than my example below, but it's the same idea.
EXAMPLE
$$
\hat y_i = \hat\beta_0 + \hat\beta_1 x_i\\
\hat\beta_0 = 1\\
\hat\beta_1 = -3\\
x_1 = 2 \implies
y_1 =1 + (-3)(2) = -5
$$
