Exam3_72_SOL.pdf

Exam3_72_SOL.pdf - ECONOMETRICS Universidad Carlos III...

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ECONOMETRICS Universidad Carlos III Midterm 1 March 2016 Name: Group: Instructor Name Instructions: 1. You have 90 minutes time to answer all questions. 2. The total is 30 points 3. You can only have a pen and the ID on your table. 4. Students who have other material on their desk (or in their vicinity), who talk, or who show any other signs of foul play will without further discussion be rewarded with a 0 and will be asked to immediately leave the room. 5. All your answers should be written below the questions. We will NOT read any of the scratch paper. 1

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MULTIPLE CHOICE. (10 POINTS) Choose the one alternative that best completes the statement or answers the question. A correct answer is worth 1 point. A wrong answer is worth - 0.5. 1) An estimator is 1) A) a formula that gives an efficient guess of the true population value. B) a nonrandom number. C) a random variable. D) an estimate. 2) ^ An estimator μ Y of the population value μ Y is unbiased if 2) A) Y p μ Y . B) ^ E ( μ Y ) = μ Y . C) Y has the smallest variance of all estimators. D) ^ μ Y = μ Y . 3) The standard error for the difference in means if two random variables M and W , when the two population variances are different, is 3) A) S 2 M n M + S 2 W n W . B) S 2 M + S 2 W n M + n W . C) 1 2 ( S 2 M n M + S 2 W n W ). D) S M n M + S W n W . 4) In the simple linear regression model, the regression slope 4) A) when multiplied with the explanatory variable will give you the predicted Y . B) indicates by how many units Y increases, given a one unit increase in X . C) represents the elasticity of Y on X . D) indicates by how many percent Y increases, given a one percent increase in X . 5) ^ The OLS residuals, u i , are defined as follows: 5) A) ^ ^ ^ Y i - Ά 0 - Ά 1 X i B) ( Y i - Y ) 2 C) ^ Y i - Y i D) Y i - Ά 0 - Ά 1 X i 6) In general, the t - statistic has the following form: 6) A) estimator - hypothesize value standard error of estimator n B) estimator standard error of estimator C) estimator - hypothesize value standard error of estimator D) estimate - hypothesize value standard error of estimate 2
7) Consider the following regression line: TestScore = 698.9 – 2.28 × STR . You are told that the t - statistic on the slope coefficient is 4.38. What is the standard error of the slope coefficient?

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