2 Pages

# Econometrics Lecture Notes 10

Course Number: ECON 4820, Winter 2012

College/University: U. Memphis

Word Count: 431

Rating:

###### Document Preview

Econometrics 10 1.1. var( ) is inversely proportional to n 1.1.1. the spread (standard deviation) of the sampling distribution is proportional to 1/ 1.1.2. Thus the sampling uncertainty associated with is proportional to 1/ (larger samples, less uncertainty, but squareroot law) The sampling distribution of when n is large (note 1-33) For small sample sizes, the distribution of will usually be complicated (unless....

##### Unformatted Document Excerpt
Coursehero >> Tennessee >> U. Memphis >> ECON 4820

Course Hero has millions of student submitted documents similar to the one
below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.

Course Hero has millions of student submitted documents similar to the one below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.

10 1.1. var( Econometrics ) is inversely proportional to n 1.1.1. the spread (standard deviation) of the sampling distribution is proportional to 1/ 1.1.2. Thus the sampling uncertainty associated with is proportional to 1/ (larger samples, less uncertainty, but squareroot law) The sampling distribution of when n is large (note 1-33) For small sample sizes, the distribution of will usually be complicated (unless. . . what is true about the distribution of the Yi values in the population?) But if n is large, the sampling distribution is simple! 1.1. As n increases, the distribution of becomes more tightly centered around Y (the Law of Large Numbers) 1.2. Moreover, the distribution of both become normal (the Central Limit Theorem) 1.2.1. 1.2.2. The Law of Large Numbers: (note 1-34) An estimator is consistent if the probability that its falls within an interval of the true population value tends to one as the sample size increases. If (Y1,,Yn) are i.i.d. and < , then is a consistent estimator of Y, that is, Pr[| Y| < ] 1 as n which can be written, ( means converges in probability to Y). The Central Limit Theorem (CLT): (note 1-35) If (Y1,,Yn) are i.i.d. and 0 < < , then when n is large the distribution of is well approximated a by normal distribution. is approximately distributed N(Y, ) (normal distribution with mean Y and variance /n) AND. . . ( Y)/Y is Y approximately distributed N(0,1) (standard normal) That is, standardized = = is approximately distributed as N(0,1) VIP: The larger is n, the better is the approximation. Fig. 2.8 Sampling distribution of when Y is Bernoulli, p = 0.78 (n = 2, 5, 25, 100) Fig. 2.8 Sampling distribution of (cont.) (note 1-36) In figure on previous slide (fig. 2.8), when n = 100, it might not be easy to see that the distribution of is normal. Its easier to see this if we examine the distribution of standardized = See next slide Same example: sampling distribution of (n = 2, 5, 25, 100) (Fig. 2.9 in book) Summary: The Sampling Distribution of For Y1,,Yn i.i.d. with 0 < < , The exact (finite sample) sampling distribution of has mean Y ( is an unbiased estimator of Y) and variance /n Other than its mean and variance, the exact distribution of is complicated and depends on the distribution of Y (the population distribution) When n is large, the sampling distribution simplifies:

Find millions of documents on Course Hero - Study Guides, Lecture Notes, Reference Materials, Practice Exams and more. Course Hero has millions of course specific materials providing students with the best way to expand their education.

Below is a small sample set of documents:

Alabama Christian Academy - COMMERCE - business
correct number of sample paths leaves theinitial node and that the number of sample paths entering each subsequent node equals the numberof sample paths leaving the node. Once we have determined the number of sample paths that willpass along each
New York Institute of Technology - AUDITING - 7400
has been made based on Vision 2030, tocalculate the air, and water pollution level around the country, therefore, to reduce thepollution level and its impacts on the environment.Future ‎Potential ‎of ‎Bahrain ‎Environmental ‎Initiatives
Golden West - PSYC - 60847
ietal81.A)B)C)D)E)The occipital lobes are to ________ as the temporal lobes are to ________.hearing; sensing movementseeing; sensing touchsensing pleasure; sensing painseeing; hearingspeaking; hearing82.The sense of hearing is to th
U. Memphis - ECON - 4820
Econometrics 1Introduction to Econometrics is title of textWhat is econometrics? What is it? Science (&amp; art!) Broadly, using theory and statistical methods to analyze data What are some uses? Test theories Forecast values (e.g., firms sales, unemp
U. Memphis - ECON - 4820
Econometrics 2 Learn to evaluate the regression analysis of others this means you will be able toread/understand empirical economics papers in other econ courses; Get some hands-on experience with regression analysis in your problem sets. Speaking of
U. Memphis - ECON - 4820
Econometrics 3 Standard deviation across districts = 19.1 Is this a big enough difference to be important for school reform discussions, for parents,or for a school committee? What does this tell us about the population? 2. Hypothesis testing (note 1
U. Memphis - ECON - 4820
Econometrics 4 (a) Single random variable (note 1-10)Population The group or collection of all possible entities of interest (school districts) We will think of populations as infinitely large ( is an approximation to very big)Sample Whats a sample?
U. Memphis - ECON - 4820
Econometrics 5 Moments (cont.) (note 1-17)kurtosis == measure of mass in tails= measure of probability of large values kurtosis = 3: normal distribution kurtosis &gt; 3: heavy tails (leptokurtotic) Two random variables Random variables X and Y Toget
U. Memphis - ECON - 4820
Econometrics 6= P(Y=1| X=0) = ? (hint: recall the answer above) Conditional Distribution (cont.) Question from previous slide (cont.) prob. of short commute (Y=1) if you know its raining (X=0) Now, check your answer by calculation Conditional Distri
U. Memphis - ECON - 4820
Econometrics 71 corr(X,Z) 1corr(X,Z) = 1 mean perfect positive linear associationcorr(X,Z) = 1 means perfect negative linear associationcorr(X,Z) = 0 means no linear associationCorrelation coefficient is unitless, so it avoids the problems of the cov
U. Memphis - ECON - 4820
Econometrics 8We will assume simple random sampling Choose an individual (district, entity) at random from the populationRandomness and data Prior to sample selection, the value of Y is random because the individual selected israndom Once the indivi
OCAD - VISD - 2B36
SEPTEMBER 10, 2013- We study the history of typography because- Appreciate the past- Understand visual communication better- The history of writing is the history of human civilization. For example: village culture, hunting, etc., itwas not necessary
OCAD - VISD - 2B36
SEPTEMBER 17, 2013- Chiaku Wen: bone and shell logographic script (1800 BCE 1200 BCE) first known Chinesewriting, which was followed by Chin-Wen. Script was inscribed on bronze.- Paper: comes from the word papyrus, paper was invented in China (100 CE),
Missouri State - MGT - 342
tu*'hT,ffirffi,uqurqtrtfft wtt/trJ b hbclouwu r,r f y&gt;)vnnqT)fi,rdvt Je )fnw iq'irSSgToSte.itlurSna ru4!lyw&quot;cfw_W,WqU#sPpffif,ffiffip#*m,*,nJ- Qt-HjYs#e?,3^:r,&quot;mffi fl?ffi#r.isurelsr(s pesolc pue uedo oru lurl1\&amp;'IWw&quot;L4Al nW7t&quot;,W s u&quot;At,h
Missouri State - MGT - 342
r.\r,.e,*-&lt;_!)&quot; -c;xl .:; .r .:Q? tr,I .FP x\4,-r.( !-r'P-.?7P ,J.l. uY.X i(*p4 !,\' ++? )rt(YCr,&quot; -&gt;.i6 &gt;-)(t\rt IrIt('\&lt;t&lt;:, .*-* .i-&quot; l-+ cC&lt;.; lc- (:*() Cr, t:) 2t:i'- ,54c'\)&quot;1(t (']\.orr1)r2J rlrLlpu )dS arfJpn ul .'11
Missouri State - MGT - 447
&amp;ry,qng bz; '(as4pp c,of)rn&gt; h Il-.',* ?tDtgbcfw_a;*&gt;ru;\$ffiffiSrnr&quot;rZ4&quot;.,tV',rdo'ttT'4 u .r&quot;*p:-rut -futl fi a.n0o4 wua \F.*;?,b\+uAalc,1 &gt;s+t* l*n \-v&gt;fl .lzl- ,z\i r:lOCr;cLla4.n,rO( ,)\crnurd Sq)c4l fL\100ilX^te?ilnnt dr&quot;tlbc2 Vo #r1 f'tot
Missouri State - SPN - 101
't_vrxjJffi@rereEI(,r'\j'Ioduanf, -Ia(I silJuvicfw_JNIII SNOdSIIUUOC UO'IO3:slmd Epec cp Jolo, Is d od-ranc 1*p s'*pud olttnc uJquoN'urnrqde1EAJtrqoinpnpom*patua cfw_n ln1,t7 aqprsAWq3i&amp;oulslsusn'sssBxld z1otr 6cfw_qnd ap cfw_686t) E
Missouri State - SPN - 101
L2\$'st.) a/&amp;r.t l, r:\i-.'v\$', ?1.rcfw_,!,\ \$'?7L'C': \$'l\$'z'so^luec olcfw_3o ,( ?ueos uoo seJlgp e^onu ,( elue,tou esonc iorec ,(nru se[o1e&quot;r 1g'solluo3 lueses uoc soJlgp sros ,( luaJenc lsenc Blrrcfw_oour e.IisoleJuq9n|!'so,teluoc orcf
Missouri State - SPN - 101
CategorfasPiace these words in the correct category. / Pon estas palabras en ia categoria correcta.etatfigo-dfrJllacorbataaltaarnarill,odntip6ticolacamisetalaehaquetala ehica&quot;gnsROPAla sefisraoegroelnifiotaca.flaelhombrelospantalonestra
Missouri State - SPN - 101
Tu Mundo/ Prueba\-?()1Nombre:,i,UVFecha:A. Opci6n mriltipleIndicate the most logical answers. OJO: In some cases, there is more than one answer. / Indica lasrespuestas m6s l6gicas. OJO: En algunos casos, hay m6s de una respuesta. (30 points)|1.
Missouri State - SPN - 101
N\Q.\t:o_)iJiUR.\&quot;x\r&quot;cyxrn,.&quot;-.,]ttrCoitr plcl e thI.cliIIIor,r,iri!.I.,a bhrsii ncfw_) (:gsrrr I r cfw_il r.r:losCS(B-with I hc apl't.rtirria tc i'.r'rrr .1. tlrc i't.l ica tr:r.i adir-:cl, ir.! -,hn-Ce.-\&amp;ivr:.._. (,r,r., bt.rrato
Missouri State - SPN - 101
\6,=r:'i:x.]u&quot;.a^lr&amp;IRK*Iantundrs ^C.apitulo2*l2Briscalo td: La oficina del profcsor (Estudiante l )Cor:versa con tu compafiero/a paru campletar Ia tabla. lNo mires el papelNcfw_[DELO: El: ;De qu colorescletu cornpafrerola!el ltrove.ffor'!
Missouri State - SPN - 101
IEneuesta: Los obietos y Ia ropa ds Ios cornpafreroSasPregrintalesalres compafreros/as si tie nen estos objetos tipicos del sal6n de clase o esta.i prendasde ropa en este rtomento. Marca si el compaiierola lieneMODEU);Hl: Hola Saralz,ltienes(,rI
Missouri State - SPN - 101
&quot;'[i-;).:',\t:f[Q\,',: &quot;'Birscslo tr&amp;: [,os mmpleaftos y la edad fEstudianteI)Conversa con tu crimpafierola para completar la tabla. ;No rnires el papel de tu con:pafiero/a!Despuds, contesta las preguntas con Ia informacidn de latablaMODEI,O:El: l
Missouri State - CIS - 429
ForwebFirms,fasteraccesscomesatapriceBy SHALINI RAMACHANDRAN and DREW FITZGERALDIncreaseSpeed In order to speed trafficthrough an increasinglycongested internet,several big Webcompanies are payingmajor broadbandproviders for connectionsto get f
Missouri State - CIS - 429
AppleMerging Technology, Business, and Entertainment1. Evaluate how Apple can gain business intelligence through the implementation of acustomer relationship management system.Apple will know their demand better and they will be able to project company
Missouri State - CIS - 429
ChromeTim, Ye Ting, Section 791The Thorough DescriptionChrome is a web browser developed by Google. It is also distributed by Google onSep 2, 2008. C+, assembly language, and Javascript are programming languages itused. It could be supported by opera
Missouri State - CIS - 429
ChromeBy Tim, Ye Ting, Section 791The Thorough DescriptionChrome is a web browser developed byAlso distributed by Google on Sep 2, 2008.550 languagesaround the world?_ ?The Thorough DescriptionThe Thorough DescriptionThe Thorough DescriptionTh
Missouri State - MGT - 286
Loveisthethingyouknow(75waystokeepcostsdown)TiaraHudsonJohnsonMGT286CareerGoalsEvent/WeddingPlanningvEntrepreneurshipvSpavMakeupArtistvStatisticsAverageageforabridewillbe27vAverageageforagroomwillbe29v20%increasesince2002vMajorityofcou
Missouri State - ECO - 165
1. Economic models or theories* b. are simplifications of the real world they represent2. Allocative efficiency means that* b. resources are allocated to the use which has the highest value to society3. Operating inside a society's production possibil
Missouri State - QBA - 237
xxbarx-xbarx-xbar2 s^2251.46 -115.46 13331.01 272.0615251.46-40.46 1637.012 33.4084251.46-57.46 3301.652 67.38064251.4625.54 652.2916 13.31207251.46-20.46 418.6116 8.543094251.4629.54 872.6116 17.8084251.46-89.46 8003.092 163.3284251.46-
Missouri State - QBA - 237
Managerial ReportGulf Real Estate PropertiesBy Heidi JessopTing YeWeisiyu QinCase 2: Gulf Real Estate PropertiesGulf Real Estate Properties, Inc. is a real estate firm located in Southwest Florida. The company,which advertises itself as expert in t
Missouri State - QBA - 237
Managerial ReportSpecialty ToysBy: Ting Ye[1] The distribution with mean and standard deviation = 20,000z = (x - ) / 0.5 + 0.954/2 = 0.98 - 3 - 2 - = 20,000 + + 2 + 3 = (x - ) / z0.98*2 = 1.96 = (x - ) / z = (30,000 20,000) / 1.96 = 5102 = 5
Missouri State - PLS - 101
Chap. 6Agents of socialization Families instill basic beliefs and valuesSchools impact a childs basic political beliefsMass mediaPeers friends, neighbors, co-workersPolitical Institutions and Leaders president, CongressChurchesExit polls - intervie
Missouri State - PLS - 101
PLS FINAL EXAM STUDY GUIDE (Dec. 10 : 8:45-10:45 a.m.)Chap. 4Alien and Sedition Acts (p118)- Congress in 1798 passed four laws in an effort to strengthen theFederal governmentBad tendency test- A test used to analyze free speech issues that derived fr
Missouri State - PLS - 101
PLS FINAL EXAM STUDY GUIDE (Dec. 10 : 8:45-10:45 a.m.)Chap. 4Alien and Sedition Acts (p118)- Congress in 1798 passed four laws in an effort to strengthen theFederal governmentBad tendency test- A test used to analyze free speech issues that derived fr
Missouri State - PLS - 101
Globalization- the increasing interdependence of citizens and nations across the worldnational sovereignty- each national gov't has the right to govern its peoples as it wishes, withoutinterference from other nationsgovernment - the legitimate use of f
Missouri State - BIO - 102
Cave PollutionThe Ozarks are full of various types of terrains and landscapes, including the intricatecave systems below the land surface. These caves are the home to numerous plants, fungi, andanimals, such as the Ozark Cavefish, and they provide unde
Missouri State - LLT - 121
Mythology 121 study notesThe Aeneid and Iliad or Odyssey look much the same.Both authors use an apparatus or gods to manipulate the action,set their poems in the days of the Trojan War,Treat issues of honor and destiny,and present gory descriptions o
Missouri State - CHM - 160
IntroductionIn this lab, we examine the effects of temperature and competitive inhibition on galactosidase. -galactosidase catalyzes the breakdown of the disaccharide lactose (milk sugar)to the monosaccharides galactose and glucose (Barnhart and Hopper,
Missouri State - CHM - 160
3. Describe the scientific approach to knowledge. How does it differ from other approaches?The scientific approach to knowledge is based on observation and experiment. Scientistsobserve and perform experiments on the physical world to learn about it. Ob
Missouri State - CHM - 160
Herbal Gel Toothpaste of Colgate-Palmolive CompanyTim, Ye Ting, Section 5, M00062503IntroductionThis paper will introduce Colgate-Palmolive Company, its products and Herbal GelToothpaste first. After that, the manufacturing process and primary ingredi
Missouri State - HST - 121
BillofRights:Becauseofthefearofhavingatoopowerfulstategovernment,a documentwaswritten(theBillofRights)thatpreventedgovernmentfromallowing restrictionsonmanythingsthatAmericansconsideredalibertyoflife.Thisensuredthe rightoffutureAmericans.HamiltonsFina
Missouri State - HST - 121
George Washington Founding FatherDoes a persons individuality and personality contribute to his effectiveness of being aleader? An individuals character shows a lot about how they run a country or how he leads hismen into battle. Like George Washington
Missouri State - MGT - 340
Ethical ModelsThe major rules/models of ethics described in the textbook and discussed in class areutilitarian, moral rights, theory of justice (including procedural justice and distributive justice) andcultural relativism. Utilitarian is a kind of beh
Missouri State - MGT - 364
The OperationsManagement of IKEAYe TingPeter EsuOutlineAbstractIntroductionResearch Methods1.THE OPERATIONS MANAGEMENT OF IKEAYe Ting, Peter EsuLNU-MSU College of International Business, Liaoning Normal University850 Huanghe Road, Dalian, Chin
GCSU - ENGL - 1101
1Running head: ARTICLE SUMMARYArticle SummaryIn a study done at the University of Pennsylvania, Kevin Fox and Robert Snyder testedthe effects that small doses of diazepam fit into a continuous food diet had on aggressivebehaviors in adult male mice.
GCSU - ENGL - 1101
AbstractAfrican American Vernacular English (AAVE) was known previously as Black EnglishVernacular, but outside of the academic world informally known as Ebonics(Sidnell). Theactual word Ebonics was created by a group of African American scholars in 19
GCSU - ENGL - 1101
1RamboScarce Eating HabitsPeople eat multiple times everyday as a routine, thinking nothing of serving sizes,nutritional facts, long or short-term effects the meal may have on their body. Food canprovide comfort, create satisfaction, and even cure bo
GCSU - ENGL - 1101
1RamboNeed A Moment?Picture the feeling you get when something surprising or awkward happens in aconversation with another person. If only you could take a bite of an appetizing chocolate candybar, pause time, and compile a witty line to save yoursel
GCSU - ENGL - 1101
Rambo1Enabling the Disabled: The Impact of The Americans with Disabilities ActThe Americans with Disabilities Act or ADA, first passed in 1990, forever changed theopportunities for people in the United States who live with a variety of needs. Accordin
GCSU - ENGL - 1101
HeroesHeroism has been described throughout the years in many different ways according towho is being asked. Everyone has a different interpretation depending on how their own hero hasaffected them. To me, a hero is someone who has although has flaws,
GCSU - ENGL - 1101
1RamboOne of the main themes in The Epic of Gilgamesh is innocence versus experience.Specifically Enkidus journey from running with the wild animals to discovering the realnature of human beings and society mirrors a child as they grow and learn how t
GCSU - ENGL - 1101
1RamboJumping to ConclusionsOedipus is filled with an element called Sophoclean irony, morecommonly known as dramatic irony. In this play, the audience watches asOedipus runs from what he perceives as his fate, but what the audienceknows is that he
GCSU - ENGL - 1101
1RamboFeminism in Females WorksMost poets and writers in the beginning were males. Stories weredominated by the male character, usually ending in some sort of personalvictory over a woman. Eliduc is written by a woman, Marie de France, theearliest k
GCSU - ENGL - 1101
1Running head: SUMMARY OF APASummary Of The APA StyleAbstract2The abstract should be a concise summary of all sections of the paper. This section allows areader to quickly judge whether or not the article has the information they are seeking. Byvie
GCSU - ENGL - 1101
1RamboContinuing a Patriarchal SocietyIn my developmental psychology class we recently discussed theconcept of The Double Standard; that is the fact that when men are withmultiple women they are rewarded, while when women are with multiplemen, they
GCSU - KINS - 2313
1RamboThe Americans with Disabilities Act, enacted in 1990, forever changed the opportunitiesfor people who live with a variety of needs. As stated in The Disability Rights Movement, therights that people with disabilities have today were not always t
GCSU - KINS - 2313
AgingEveryday people make choices that affect their health. While one small decision suchas eating a piece of cake may not have an immediate effect on ones life, habits are quicklydeveloped that result in poor health and even a shorter life in the long
GCSU - KINS - 2313
Running head: EFFECTS OF DIAZEPAM ON CRICKETSEffects of Diazepam on Crickets Activity LevelAbstract12In this study, house crickets were treated with either diazepam or distilled water to testthe effects each had on the crickets activity level. Crick
GCSU - KINS - 2313
1Depression and Anxiety Related to Chronic IllnessDepression and Anxiety Related to Chronic Illness2Having a chronic physical illness puts a person at greater risk of developingdepression. The symptoms of chronic physical illness, as well as some of