lecture3

lecture3 - ECON 103, Lecture 3: Statistics Review (contd.)...

Info iconThis preview shows pages 1–7. Sign up to view the full content.

View Full Document Right Arrow Icon

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

View Full DocumentRight Arrow Icon

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

View Full DocumentRight Arrow Icon

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

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

Unformatted text preview: ECON 103, Lecture 3: Statistics Review (contd.) Maria Casanova April 7th (version 1) Maria Casanova Lecture 3 Requirements for this lecture: Chapter 2 and beginning of chapter 3 of Stock and Watson Maria Casanova Lecture 3 1. Estimators An estimator ˆ θ of a parameter θ is a function of the random variables in the sample: ˆ θ = h ( X 1 , X 2 ,..., X n ) Therefore, the estimator itself is a random variable , and will have a distribution. The sampling distribution will typically vary with sample size n . Characterizing the sample distribution: Finite-sample distribution: In some cases, we will be able to derive the exact sampling distribution for any sample size n . Asymptotic distribution: Other times we are only able to establish what the sampling distribution looks like as n → ∞ Maria Casanova Lecture 3 1. Estimators Figure: Sampling distribution of ˆ μ x for different sample sizes when X ∼ N (6 , . 09) .5 1 1.5 5 5.5 6 6.5 7 n=1 (a) n=1 .5 1 1.5 2 5 5.5 6 6.5 7 n=1 n=10 (b) n=10 Maria Casanova Lecture 3 1. Estimators Figure: Sampling distribution of ˆ μ x for different sample sizes when X ∼ N (6 , . 09) 1 2 3 4 5 5.5 6 6.5 7 n=1 n=10 n=50 (a) n=50 2 4 6 8 5 5.5 6 6.5 7 n=1 n=10 n=50 n=250 (b) n=250 Maria Casanova Lecture 3 1. Estimators What are the desirable characteristics of an estimator?What are the desirable characteristics of an estimator?...
View Full Document

This note was uploaded on 02/04/2010 for the course ECON 103 taught by Professor Sandrablack during the Spring '07 term at UCLA.

Page1 / 17

lecture3 - ECON 103, Lecture 3: Statistics Review (contd.)...

This preview shows document pages 1 - 7. Sign up to view the full document.

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