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AEA Final questions and answers graded A+ 2024/2025
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AEA Final questions and answers graded A+ 2024/2025
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AEA FinalAnomaly; what is it, and what is the equation? - ANSActual value - mean = anomaly
Difference between an actual value and some long-term average value
What is linear regression? - ANSThe line of best fit of the minimum sum of squared
distances. Shows relationship between variables.
Gives us the equation of the line associated with the data points in the form y=a+bx where a
is the y-intercept and b is the slope (similar to y=mx+b)
What is multiple linear regression? - ANSMultiple linear regression looks at multiple
independent variables and how they affect a single dependent variable.
What is p-value? What does it mean if the p-value exceeds the defined threshold (e.g. 0.05
or 0.15)? How does this relate to multiple linear regression? - ANSp -value is the degree of
confidence (or "error"). 0.05 p value would be a 95% confidence interval, with 0.05% chance
of error. The p-value for each term tests how likely it is that the two variables are related.
If you're doing multiple regression it's linear regression and anything with a p value that's
insignificant you'd remove and not use in your analysis, bc it means it's not necessarily
affecting the trends.
What is variance? - ANSExpectation of squared distance from the mean
A measure of dispersion, or how far the data are scattered from the mean
What is standard deviation and normal distribution? - ANSStandard deviation is a measure
of variance (or "dispersal) and refers to the amount difference from the mean in which 68.2%
of the data is within one standard deviation , 95.4% within 2 standard deviations, and 99.6
within three standard deviations.
What percent of the data set population fits within one +/-standard deviation - ANS68% of
the data set
What is a sensitivity analysis? - ANSMeasuring variability of independent variables within the
model. Predicts how sensitive the model is to changes in different variables.
Allows you to use a standard across all variables, allows you to predict conceptually, and
compare between variables.
9. When might someone want to use a sensitivity analysis? - ANSHave a certain desired
outcome, want to know which input variable you should change to get your desired outcome.
To determine the quickest and cheapest way to decrease emissions if variables were to
change by random imaginary amounts (i.e. 90% increase, 10% decrease etc.)
, What is an uncertainty analysis? - ANSUsing standard deviation, based on real world
understanding of how correct a variable is; SD may vary across variables , because you'd be
different amounts of certain about different things. Would use to find out how confident you
should be in your data (and the independent variables' ability to actually change results)
How does a sensitivity analysis differ from an uncertainty analysis? - ANSSensitivity analysis
uses arbitrary proportions (ie. 90% increase 10% decrease, etc) and an uncertainty analysis
would use standard deviations (real numbers)
How do you express numbers in scientific notation? - ANSExpress it as a number in the
ones place (usually with a limited number of decimal points after eg. 2) multiplied by 10x,
where x is the amount you want to move the decimal point over.
Know the fundamentals of the metric system (kilo, hector, deca, base, deci, centi, mili) and
how to express those in scientific notation. - ANSKilo= 1000
Hector= 100
Deca=10
Base=1
deci=0.1
centi=0.01
mili=0.001
What is a cost-benefit analysis and how can it be used to make decisions? -
ANSComparison of what one stands to gain vs. lose, and can be used to compare between
options.
What is amortization rate? - ANS"Payback period" The payback period refers to the amount
of time it takes to recover the cost of an investment.
What is proxy data? Provide examples of proxy data for historic climate data. - ANSInstead
of actual measurements, using a proxy measurement to back out an estimate for historic
climate data (measuring air bubbles in ice cores to determine temperatures for times we
can't measure; tree rings in trunks)
What is the difference between correlation and causation? - ANSCorrelation describes a
relationship that can be seen where two data sets seem to follow a similar pattern while
causation is when it can be determined that one is dependent on the other (ie one is an
independent variable and the other is dependent)
What is the difference between dependent and independent variables? - ANSThe dependent
variable changes as a result of changes in the independent variable while the independent
variable is not affected by the dependent variable (eg. time is an independent variable
because usually things change over time but do not affect the passage of time)
What does "r" refer to in statistics? - ANSSample correlation coefficient: How well the data
points match the regression line to show correlation between two variables
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