Question 1

A point estimate is

Accepted Answer

A) typically equal to the population parameter. 
B) single valued statistic that is the best guess of a population parameter. 
C) an interval that contains the population parameter. 
D) computed from the population. 
A) typically equal to the population parameter. 
B) single valued statistic that is the best guess of a population parameter. 
C) an interval that contains the population parameter. 
D) computed from the population. B

Question 2

Sampling without replacement is

Accepted Answer

A) ensures the individuals in the sample are independent and identically distributed. 
B) when a unit is drawn from a finite population,the value is recorded,and then not returned to the sample. 
C) the preferred method when drawing a sample. 
D) when a unit is drawn from a finite population,the value is recorded,and then returned to the sample. 
A) ensures the individuals in the sample are independent and identically distributed. 
B) when a unit is drawn from a finite population,the value is recorded,and then not returned to the sample. 
C) the preferred method when drawing a sample. 
D) when a unit is drawn from a finite population,the value is recorded,and then returned to the sample. B

Question 3

In econometrics,a sample is

Accepted Answer

A) the entire group of entities that we are interested in learning about. 
B) a subset or part of the population and it is what is used to perform statistical inference. 
C) only one observation drawn from the population. 
D) the primary thing that econometricians are interested in. 
A) the entire group of entities that we are interested in learning about. 
B) a subset or part of the population and it is what is used to perform statistical inference. 
C) only one observation drawn from the population. 
D) the primary thing that econometricians are interested in. B

Question 4

What is a statistic? A parameter? How are the two related? Explain.

Accepted Answer

A statistic is a function that is comput

Question 5

Econometrics is

Accepted Answer

A) the study of how people chose to use scarce resources. 
B) the application of statistical techniques to economic data. 
C) the science of collection,organization,analysis,and interpretation of data. 
D) the use of summary statistics. 
A) the study of how people chose to use scarce resources. 
B) the application of statistical techniques to economic data. 
C) the science of collection,organization,analysis,and interpretation of data. 
D) the use of summary statistics.

Question 6

In econometrics,a population is

Accepted Answer

A) a large number of observations drawn from a larger number of observations. 
B) typically the total number of people in a city or country. 
C) a subset or part of the population and it is what is used to perform statistical inference. 
D) the entire group of entities that we are interested in learning about. 
A) a large number of observations drawn from a larger number of observations. 
B) typically the total number of people in a city or country. 
C) a subset or part of the population and it is what is used to perform statistical inference. 
D) the entire group of entities that we are interested in learning about.

Question 7

A sampling distribution is

Accepted Answer

A) the distribution of a sample statistic such as the sample mean. 
B) the normal distribution. 
C) constant. 
D) equal to the distribution of an individual in the sample. 
A) the distribution of a sample statistic such as the sample mean. 
B) the normal distribution. 
C) constant. 
D) equal to the distribution of an individual in the sample.

Question 8

What is a sampling distribution? How do you construct one? Why is it important to understand what a sampling distribution is? Explain.

Accepted Answer

A sampling distribution is the distribut

Question 9

What is a population? A sample? How do the two combine to form the study of statistics? Explain.

Accepted Answer

A population is the entire group of enti

Question 10

A parameter is

Accepted Answer

A) a value that fluctuates depending on the sample it is computed from. 
B) a value that has constant variance. 
C) a function that is computed from the sample data. 
D) a function that exists within the population. 
A) a value that fluctuates depending on the sample it is computed from. 
B) a value that has constant variance. 
C) a function that is computed from the sample data. 
D) a function that exists within the population.

Question 11

Sampling with replacement is

Accepted Answer

A) when a unit is drawn from a finite population,the value is recorded,and then returned to the sample. 
B) a method that ensures the individuals in the sample are related to each other. 
C) when a unit is drawn from a finite population,the value is recorded,and then not returned to the sample. 
D) obtaining the same unit over and over when conducing a sample. 
A) when a unit is drawn from a finite population,the value is recorded,and then returned to the sample. 
B) a method that ensures the individuals in the sample are related to each other. 
C) when a unit is drawn from a finite population,the value is recorded,and then not returned to the sample. 
D) obtaining the same unit over and over when conducing a sample.

Question 12

Statistical inference is

Accepted Answer

A) the process of using the population to learn about the sample. 
B) based on the calculating the population parameter. 
C) typically only involves calculating the variance of the point estimate. 
D) the process of drawing conclusions from data that are subject to random variation. 
A) the process of using the population to learn about the sample. 
B) based on the calculating the population parameter. 
C) typically only involves calculating the variance of the point estimate. 
D) the process of drawing conclusions from data that are subject to random variation.

Question 13

What are the five steps in conducting an empirical research project? Explain each step.

Accepted Answer

The five steps in conducting an empirica

Question 14

What is statistical inference? Why is it valuable? Explain.

Accepted Answer

Statistical inference is the process of

Question 15

A statistic is

Accepted Answer

A) a function that is computed from the sample data. 
B) a function that exists within the population. 
C) the true population parameter. 
D) constant. 
A) a function that is computed from the sample data. 
B) a function that exists within the population. 
C) the true population parameter. 
D) constant.

Question 16

What is an empirical research project? Why is it potentially valuable? Explain.

Accepted Answer

An empirical research project is a proje

A point estimate is

Sampling without replacement is

In econometrics,a sample is

What is a statistic? A parameter? How are the two related? Explain.

Econometrics is

In econometrics,a population is

A sampling distribution is

What is a sampling distribution? How do you construct one? Why is it important to understand what a sampling distribution is? Explain.

What is a population? A sample? How do the two combine to form the study of statistics? Explain.

A parameter is

Sampling with replacement is

Statistical inference is

What are the five steps in conducting an empirical research project? Explain each step.

What is statistical inference? Why is it valuable? Explain.

A statistic is

What is an empirical research project? Why is it potentially valuable? Explain.

Collection and Management of Data

Summary Statistics

Simple Linear Regression

Hypothesis Testing in Linear Regression Analysis

Multiple Linear Regression Analysis

Qualitative Variables and Non-Linearities in Multiple Linear Regression Analysis

Model Selection in Multiple Linear Regression Analysis

Heteroskedasticity

Time Series Analysis

Auto-Correlation

Limited Dependent Variables

Panel Data

Instrumental Variables for Simultaneous Equations, Endogenous Independent Variables, and Measurement Error

Quantile Regression, Count Data, Sample Selection Bias, and Quasi-Experimental Methods

Filters

Exam 1: An Introduction to Econometrics and Statistical Inference

A point estimate is

Sampling without replacement is

In econometrics,a sample is

What is a statistic? A parameter? How are the two related? Explain.

Econometrics is

In econometrics,a population is

A sampling distribution is

What is a sampling distribution? How do you construct one? Why is it important to understand what a sampling distribution is? Explain.

What is a population? A sample? How do the two combine to form the study of statistics? Explain.

A parameter is

Sampling with replacement is

Statistical inference is

What are the five steps in conducting an empirical research project? Explain each step.

What is statistical inference? Why is it valuable? Explain.

A statistic is

What is an empirical research project? Why is it potentially valuable? Explain.

Collection and Management of Data

Summary Statistics

Simple Linear Regression

Hypothesis Testing in Linear Regression Analysis

Multiple Linear Regression Analysis

Qualitative Variables and Non-Linearities in Multiple Linear Regression Analysis

Model Selection in Multiple Linear Regression Analysis

Heteroskedasticity

Time Series Analysis

Auto-Correlation

Limited Dependent Variables

Panel Data

Instrumental Variables for Simultaneous Equations, Endogenous Independent Variables, and Measurement Error

Quantile Regression, Count Data, Sample Selection Bias, and Quasi-Experimental Methods

Filters