3-9-09 - Economic Statistics Class Notes Do the...

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Economic Statistics – Class Notes – 3/11/09 Do the representative questions for the quiz on Wednesday: 10.11 pp. 348 10.12 pp. 348 10.16 pp. 351 Do a “t” test but use the Z-table to find the p-value 10.21 pp. 351 11.21 pp. 388 11.27 pp. 393 (f-stat) QUIZ ON WEDNESDAY: CONTENT : Straightforward example problems identify whether it is a test on the mean (is it a “t” or a “z”) or the variance (chi-square) or two variances (F-stat) V. Regression Analysis – A way of estimating and evaluating the average linear relation between two (or more) variables A. Definitions and Concepts Two-dimensional graph X vs Y VERY IMPORTANT Problem: How to find the line that fits through he data point best

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“Best” fit = most efficient = least variance The line of best fit - A way of estimating and evaluating the AVERAGE relationship The line is given the name: (the mean of Y, given X) Alpha ( ) = The model’s intercept – the average value of “Y” when X=0 [this is the
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This note was uploaded on 06/03/2009 for the course ECON 203 taught by Professor Casler during the Spring '09 term at Allegheny.

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3-9-09 - Economic Statistics Class Notes Do the...

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