IPS6eCh02_1bb_extra

IPS6eCh02_1bb_extra - Chapter2 ConcernsBIVARIATErelations...

Info iconThis preview shows pages 1–8. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 2 – Concerns BIVARIATE relations 2.1 Scatterplots 2.2 Correlation 2.3 Least Squares Regression 2.4 Cautions about Correlation and Regression 2.5 Relations in Categorical Data
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Independent variable = explanatory = exogenous Dependent variable = response = endogenous The way economists think about variables may change in different models. Often we think of price as independent and quantity (demanded or supplied) as dependent
Background image of page 2
Recall:
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
City and Highway fuel consumption for 2001 model 2-seater cars Each “individual” is a different car. Note the extreme value. This would be an outlier If considering the mean of either of the two variables, BUT if we estimate a line Through the data, the extreme value will be near the line and so NOT an outlier When considering the relationship between the two variables.
Background image of page 4
Recall:
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Recall:
Background image of page 6
For Exercise 2.21 on page 98 (6
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 8
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 05/26/2009 for the course ECON 41 taught by Professor Guggenberger during the Fall '07 term at UCLA.

Page1 / 17

IPS6eCh02_1bb_extra - Chapter2 ConcernsBIVARIATErelations...

This preview shows document pages 1 - 8. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online