metricsexam1f05

metricsexam1f05 - Applied Econometrics Midterm 5th of...

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Applied Econometrics Midterm 5 th of October, 2005 This exam consists of ten short questions ( worth two points apiece ) and four long questions ( worth fifteen points each ) , for a total of 80 points. You have 80 minutes to answer all completely and clearly in the space provided. Short Questions 1. List the three assumptions of the OLS model. 2. What is the difference between an estimator and an estimate? 3. What does it mean for an estimator to be unbiased? 4. What two conditions must an instrumental variable satisfy?
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irrelevant variables in your model? 6. How does classical measurement error affect OLS estimates? 7. What effects do unusual observations ( or outliers ”) have on OLS estimates? 8. If your data has heteroskedasticity , what must you do to make correct inferences using the OLS estimates of ! ? 9. What is the meaning of endogeneity? 10. State the formula for the
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metricsexam1f05 - Applied Econometrics Midterm 5th of...

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