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Econometrics || very Flawless.
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to standardize a variable correct answers subtract its mean and divide by standard deviation In a randomized controlled experiment correct answers there is a control group and a treatment group. The most frequently used experimental or observational data in econometrics are of the following t...

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  • September 10, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
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  • to standardize a variable

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  • Econometrics ||
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Econometrics || very Flawless.
to standardize a variable correct answers subtract its mean and divide by standard deviation

In a randomized controlled experiment correct answers there is a control group and a treatment
group.

The most frequently used experimental or observational data in econometrics are of the
following type: correct answers cross-sectional data

The expected value of a discrete random variable correct answers is computed as a weighted
average of the possible outcome of that random variable, where the weights are the probabilities
of that outcome.

Assume that Y is normally distributed N(μ, σ2). Moving from the mean (μ) 1.96 standard
deviations to the left and 1.96 standard deviations to the right, then the area under the normal
p.d.f. is correct answers 0.95

To infer the political tendencies of the students at your college/university, you sample 150 of
them. Only one of the following is a simple random sample: You correct answers have your
statistical package generate 150 random numbers in the range from 1 to the total number of
students in your academic institution, and then choose the corresponding names in the student
telephone directory.

The central limit theorem correct answers states conditions under which a variable involving the
sum of Y1,..., Yn i.i.d. variables becomes the standard normal distribution.

Assume that you assign the following subjective probabilities for your final grade in your
econometrics course (the standard GPA scale of 4 = A to 0 = F applies):

Grade Probability
A 0.50
B 0.50
C0
D0
F 0 correct answers 3.5

A large p-value implies correct answers that the observed value act is consistent with the null
hypothesis.

When the sample size n is large, the 90% confidence interval for is correct answers Y ±
1.64SE(Y ).

The correlation coefficient correct answers is a measure of linear association.

an estimator is correct answers a random variable

, to provide quantitative answer to policy question correct answers examine emperical evidence

cumulative probability distribution shows probability correct answers that random variable is
less than or equal to a particular value

ideal randomized controlled experiments in economics are correct answers useful because they
give a definition of a causal effect

correlation between X and Y correct answers can be calculated by dividing the covariance
between X and Y by the product of the two standard deviations

A large p value implies correct answers that observed value Y bar is consistant with null
hypothesis

one of the primary advantages of using econometrics over typical results from economic theory
is correct answers it potentially provides you with quantitative answers for a policy problem
rather than simply suggesting the direction of the response

The regression R2 is defined as follows: correct answers ESS/TSS

Consider the following regression line: testscore = 698.9 - 2.28 × STR. You are told that the t-
statistic on the slope coefficient is 4.38. What is the standard error of the slope coefficient?
correct answers .52

R^2 is a measure of correct answers the goodness of fit of a line

The OLS residuals, u i, are defined as follows: correct answers Yi - Yhat i

In general, the t-statistic has the following form: correct answers estimator-hypothesize value/
standard error of estimator

the OLS estimator is derived by correct answers minimizing the sum of squared residuals

To obtain the slope estimator using the least squares principle, you divide the correct answers
sample covariance of X and Y by the sample variance of X.

a binary variable is called a correct answers dummy variable

a small p value correct answers indicates evidence against the null hypothesis

In the simple linear regression model, the regression slope correct answers indicates by how
many units Y increases, given a one unit increase in X.

the confidence interval for the sample regression function slope correct answers can be used to
conduct a test about a hypothesized population regression function slope

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