Intro to Econometrics || with A+ Guaranteed Solutions.
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Course
Intro to Econometrics
Institution
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...
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
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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