Statistics and Econometrics: Methods and ApplicationsEvery major econometric method is illustrated by a persuasive, real life example applied to real data. * Explores subjects such as sample design, which are critical to practical application econometrics. |
Contents
Contents | 1 |
Basic Probability Theory | 9 |
3 You Gotta Relent If its 95 Percent | 22 |
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alternative APPLICATION associated assume assumptions average B₁ B₁X B₂ basic outcomes bias calculate Chapter confidence interval consider covariance defined dependent variable derived discrete random variable dummy variables earnings econometrics economic endogenous equal equation error term esti event example expected value explanatory variables gender given graph H₁ heteroskedasticity hypothesis tests impact income independent indicates instrumental variables intercept linear measurement error normal distribution Notice null hypothesis observations occur OLS estimators ordinary least squares population mean population parameter predicted probability density function probability distribution problem properties reduced-form reject the null relationship sample mean sample space sampling distribution serial correlation simply slope coefficient specific standard deviation standard errors standard normal statistic Suppose tion true unbiased estimator var(X var(Y variance wages wine X₁ X₂ Y₁ yields zero βι μχ στ σχ