Spreadsheet for use in Question 7								
								
Part A Manipulation of Residuals								
Firm	Residual	Residual-Min(Residual)	Residual-95th% residual	Residual-75th% residual	Residual-User Determined% residual			
1	0.6932	1.7698	1.3810	0.8729	0.8729			
2	0.7709	1.8475	1.4587	0.9506	0.9506			
3	1.1375	2.2141	1.8254	1.3172	1.3172			
4	-0.1026	0.9740	0.5852	0.0771	0.0771			
5	-0.3826	0.6940	0.3052	-0.2029	-0.2029			
6	0.1137	1.1903	0.8015	0.2934	0.2934			
7	0.0985	1.1751	0.7863	0.2782	0.2782			
8	0.3017	1.3783	0.9896	0.4814	0.4814			
9	-0.0096	1.0670	0.6783	0.1701	0.1701			
10	0.0714	1.1480	0.7592	0.2511	0.2511			
11	-0.1397	0.9369	0.5481	0.0400	0.0400			
12	-0.1592	0.9174	0.5286	0.0205	0.0205			
13	0.1217	1.1983	0.8096	0.3014	0.3014			
14	-0.1650	0.9116	0.5228	0.0147	0.0147			
15	-0.0392	1.0374	0.6486	0.1405	0.1405			
16	-0.2562	0.8204	0.4316	-0.0765	-0.0765			
17	-0.2238	0.8528	0.4641	-0.0441	-0.0441			
18	-0.0867	0.9899	0.6012	0.0930	0.0930			
19	-1.0766	0.0000	-0.3888	-0.8969	-0.8969			
20	-0.6674	0.4092	0.0205	-0.4877	-0.4877			
								
Part B Computation of efficiency from residuals								
	Firm	Efficiency (COLS adjustment)	Efficiency (95th% adjustment)	Efficiency (75th% adjustment)	Efficiency (User Determined% adjustment)			
	1	17%	25%	42%	42%			
	2	16%	23%	39%	39%			
	3	11%	16%	27%	27%			
	4	38%	56%	93%	93%			
	5	50%	74%	100%	100%			
	6	30%	45%	75%	75%			
	7	31%	46%	76%	76%			
	8	25%	37%	62%	62%			
	9	34%	51%	84%	84%			
	10	32%	47%	78%	78%			
	11	39%	58%	96%	96%			
	12	40%	59%	98%	98%			
	13	30%	45%	74%	74%			
	14	40%	59%	99%	99%			
	15	35%	52%	87%	87%			
	16	44%	65%	100%	100%			
	17	43%	63%	100%	100%			
	18	37%	55%	91%	91%			
	19	100%	100%	100%	100%			
	20	66%	98%	100%	100%			
								
	Part C Percentile analysis							
	Analysis of the efficiency score which corresponds to each percentile of the distribution (low to high)							
								
	Percentile	Efficiency (COLS)	Efficiency (95th% adjustment)	Efficiency (75th% Adjustment)	Efficiency (User Determined% Adjustment)			
	0%	11%	16%	27%	27%			
	10%	17%	25%	41%	41%			
	20%	29%	43%	72%	72%			
	30%	31%	45%	75%	75%			
	40%	33%	49%	82%	82%			
	50%	36%	54%	89%	89%			
	60%	38%	57%	94%	94%			
	70%	40%	59%	98%	98%			
	80%	43%	63%	100%	100%			
	90%	52%	76%	100%	100%			
	100%	100%	100%	100%	100%			
								
Computations 								
								
User determined percentile (for user investigation)			75%	adjust this % to see how the distribution of efficiency scores changes (see Part C) when alter the extent to which the OLS line is shifted				
User determined residual			-0.179705549					
75th percentile residual			-0.179705549					
95th percentile residual			-0.687830764					
Minium residual			-1.0766