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econ483practicemidterm

# econ483practicemidterm - Econ 483 Applied Econometric...

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Econ 483. Applied Econometric Modeling Practice Questions for Midterm The midterm is an OPEN BOOK & NOTE exam. Feel free to bring your class notes, handouts and up to 2 books. You are NOT allowed to use your own computer. 1. Review all the questions in quiz 1 and computer lab practice 1-3. 2. Suppose X 1 ; X 2 ; :::; X 1000 are iid N (0 ; 1) variables. (1) Calculate E [ X 20 ] . (2) Let ( x 1 ; x 2 ; :::; x 1000 ) be a realization of the random variables ( X 1 ; X 2 ; :::; X 1000 ) . These realized values are stored in XXX.dta. Using STATA, calculate and report the sample mean of the °rst 10 observations, ( x 1 ; x 2 ; :::; x 10 ) . (3) Report the sample mean of the °rst 100 observations, ( x 1 ; x 2 ; :::; x 100 ) and the sample mean of the whole sample ( x 1 ; x 2 ; :::; x 1000 ) . (4) In general, 1 n P n i =1 x i is not exactly zero. Do you expect that 1 n P n i =1 x i will converge to a non- random number? Why? 3 Consider a regression model: y i = ° 0 + ° 1 x i + u i , i = 1 ; 2 ; :::; n , where ° 0 and ° 1 are the parameters of our interest. (1) Is this model a linear model? Explain brie±y. (2) We estimate the model using the least squares method, and get the following results: y i = b ° 0 + b ° 1 x i + b u i . What is the interpretation of

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