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ECONOMICS 351*
MidTerm Exam  Fall Term 2003
Page 1 of 5 pages
QUEEN'S UNIVERSITY AT KINGSTON
Department of Economics
ECONOMICS 351*  Fall Term 2003
Introductory Econometrics
Fall Term 2003
MIDTERM EXAM
M.G. Abbott
DATE
:
Tuesday October 28, 2003.
TIME
:
80 minutes; 1:00 p.m.  2:20 p.m.
INSTRUCTIONS
:
The exam consists of
FIVE
(5)
questions.
Students are required to answer
ALL FIVE (5)
questions.
Answer all questions in the exam booklets provided.
Be sure your
name
and
student number
are printed clearly on the front of all exam booklets
used.
Do not write answers to questions on the front page of the first exam
booklet
.
Please label clearly
each of your answers in the exam booklets with the
appropriate number and letter.
Please write legibly.
MARKING
:
The marks for each question are indicated in parentheses immediately
above each question.
Total marks
for the exam
equal 100
.
GOOD LUCK!
ECON 351*  Fall Term 2003: MidTerm Exam
Page 1 of 5 pages
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View Full DocumentECONOMICS 351*
MidTerm Exam  Fall Term 2003
Page 2 of 5 pages
QUESTIONS
:
Answer ALL FIVE
questions.
All questions pertain to the simple (twovariable) linear regression model for which the
population regression equation can be written in conventional notation as:
(1)
YX
i
=+
+
ββ
12
u
i
i
where Y
i
and X
i
are observable variables,
β
1
and
β
2
are unknown (constant) regression
coefficients, and u
i
is an unobservable random error term. The Ordinary Least Squares (OLS)
sample regression equation corresponding to regression equation (1) is
(i = 1, .
.., N)
(2)
i
+
$$
$
u
i
i
where
β
is the OLS estimator of the intercept coefficient
$
1
β
1
,
β
is the OLS estimator of the
slope coefficient
,
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 Spring '10
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