Economics > QUESTIONS & ANSWERS > Econometrics Exam Questions and Answers. (All)
Econometrics Exam Questions and Answers.
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No experimental data Correct Answer data that has not been obtained through controlled experiments on individuals, firms, or segments of the economy Observational data Correct Answer Nonexperimenta... l data; emphasize the fact that the researcher is a passive collector of the data. Experimental data Correct Answer Data that have been obtained by running A controlled experiment. Empirical analysis Correct Answer A study that uses data in a formal econometric analysis to test a theory, estimate a relationship, or determine the effectiveness of a policy. Economic model Correct Answer A relationship derived from economic theory or less formal economic reasoning. Econometric model Correct Answer An equation relating the dependent variable to a set of explanatory variables and unobserved disturbances, where unknown population parameters determine the ceteris paribus effect of each explanatory variable Cross-sectional data set Correct Answer A data set collected by sampling a population at a given point in time. Random sampling Correct Answer A sampling scheme whereby each observation is drawn at random from the population. In particular, no unit is more likely to be selected than any other unit, and each draw is independent of all other draws. [Show More]
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