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BUAN 6312 Exam 1 Question with correct answers
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BUAN 6312 Exam 1 Question with correct answers
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BUAN 6312 Exam 1 Question with correct answersIn an F test, J is the number of what in the model? Correct Answer-
Restrictions
In an F test, K is the number of what in the unrestricted model? Correct
Answer-Coefficients including the intercept
Type I error Correct Answer-Rejecting H0 when true
Type II error Correct Answer-Not rejecting H0 when false
Reject H0 if p is ______ than alpha Correct Answer-less
If the chosen model is correct, the plotted residuals should look
completely what? Correct Answer-random
What is it called when a relevant variable explanatory variable is left out
and causes bias in other variables? Correct Answer-Omitted variable
bias
Irrelevant variables increase what two things for other variables? Correct
Answer-SE and p values
, When a set of variables have exact collinearity is included in an
econometric model, the coefficient estimates are what? Correct Answer-
Undefined
What is not used to evaluate model specifications? Correct Answer-R^2
What is eliminated by including an additional variable in a regression?
Correct Answer-Omitted variable bias
Running functions where each explanatory variable is estimated as a
function of the other explanatory variables can help detect what? Correct
Answer-Collinearity
How does omitting a relevant variable affect the other coefficients?
Correct Answer-They are biased in either direction
The coefficients of collinear variables in an econometric model have
larger what? Correct Answer-Standard error
An interaction term is a variable that is what? Correct Answer-Product
of 2 explanatory variables
How can you estimate a non-linear function using least squares? Correct
Answer-Transform such as squaring, cubing some variables
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