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Intro to Econometrics || with A+ Guaranteed Solutions.

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  • Intro to Econometrics
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  • Intro To Econometrics

least squares correct answers estimates the regression parameters in such a way that the sum of the squared difference between the actual Y values and the estimated Y values is as small as possible OLS estimators correct answers estimators of the regression parameters obtained by the method of l...

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  • September 10, 2024
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Intro to Econometrics
  • Intro to Econometrics
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Intro to Econometrics || with A+ Guaranteed Solutions.
least squares correct answers estimates the regression parameters in such a way that the sum of
the squared difference between the actual Y values and the estimated Y values is as small as
possible

OLS estimators correct answers estimators of the regression parameters obtained by the method
of least squares

variance of an estimator correct answers measures the spread of the estimated values around the
mean value of the estimator

standard error of an estimator correct answers the positive square root value of the variance of an
estimator

homoscedasticity correct answers equal variance

heteroscedasticity correct answers unequal variance

autocorrelation correct answers correlation between successive values of a random variable

total sum of squares correct answers the sum of squared difference between the individual and
the mean value of the dependent variable Y

explained sum of squares correct answers the part of TSS that is explained by the explanatory
variable

residual sum of squares correct answers the part of TSS that is not explained by the explanatory
variable

r^2 correct answers the proportion of total variation in Y explained by the explanatory variables.
ESS/TSS

standard error of estimate correct answers the standard deviation of the Y values about the
estimated regression line

BLUE correct answers BLUE means best linear unbiased estimator: a linear estimator that is
unbiased and has the least variance in the class of all such linear unbiased estimators

test of significance correct answers statistical procedure of testing statistical hypotheses

t test correct answers test of significance when you do not know the true variance

statistically significant correct answers short-hand for the statement: reject the null hypothesis

ei correct answers an estimator of the true error term ui

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