hw1_120c_su08_S1

hw1_120c_su08_S1 - Economics 120C Professor Yongil Jeon...

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Economics 120C Name: _________________________ Professor Yongil Jeon Summer 2008-1 Student ID#: _________________________ Homework #1 – Summer 2008-Session 1, Econ 120C (Midterm Exam, Summer 2007-Session 2, Econ 120C) Answer all questions on separate paper. This problem set should be handed in to your TA at the beginning of your review session on Friday, July 18, 2008. Problem sets may not be handed in once solutions have been distributed. Please write down your name and PID clearly. Good luck! 1) (3 points) You need to adjust 2 ˆ u s by the degrees of freedom to ensure that 2 ˆ u s is a. an unbiased estimator of 2 u σ . b. a consistent estimator of 2 u . c. efficient in small samples. d. F -distributed. Answer : 2) (3 points) The Gauss-Markov Theorem proves that a. the OLS estimator is t distributed. b. the OLS estimator has the smallest mean square error. c. the OLS estimator is unbiased. d. with homoskedastic errors, the OLS estimator has the smallest variance in the class of linear and unbiased estimators, conditional on X 1 ,…, X n . Answer : 3) (3 points) The class of linear conditionally unbiased estimators consists of a. all estimators of β 1 that are linear functions of Y 1 ,…, Y n and that are unbiased, conditional on X 1 ,…, X n . b. OLS, WLS, and TSLS. c. those estimators that are asymptotically normally distributed. d. all estimators of 1 that are linear functions of X 1 ,…, X n and that are unbiased, conditional on X 1 ,…, X n . Answer : 4) (3 points) In practice, the most difficult aspect of feasible WLS estimation is a. knowing the functional form of the conditional variance. b. applying the WLS rather than the OLS formula. c. finding an econometric package that actually calculates WLS. d. applying WLS when you have a log-log functional form. Answer :
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2 HW 1, ECON 120C, Summer 2008 – S1 5) (3 points) 11 ( | ,..., ) Pr( 1| ,..., ) kk EYX X Y X X = = means that a. for a binary variable model, the predicted value from the population regression is the probability that Y =1, given X . b. dividing Y by the X ’s is the same as the probability of Y being the inverse of the sum of the X ’s.
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This note was uploaded on 07/17/2008 for the course ECON 120C taught by Professor Stohs during the Spring '08 term at UCSD.

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hw1_120c_su08_S1 - Economics 120C Professor Yongil Jeon...

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