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Unformatted text preview: Dougherty: Introduction to Econometrics 3e Study Guide Review Random variables and sampling theory [ Note : Begin your study of this chapter by reading the Overview section below. Then read the corresponding chapter in the textbook, view the corresponding slideshows on the website, and do the starred exercises. Do the additional exercises in the subject guide. Check the answers to the exercises. Finally, check that you have attained all the learning outcomes listed below.] Overview The textbook and this guide assume that you have previously studied basic statistical theory and have a sound understanding of the following topics: • descriptive statistics (mean, median, quartile, variance, etc.) • random variables and probability • sampling theory and estimation • properties of estimators (unbiasedness, efficiency, and consistency) • normal distribution • hypothesis testing, including: ¡ t tests ¡ Type I and Type II error ¡ the significance level and power of a t test ¡ onesided versus twosided t tests. You do not need to have studied sampling without replacement, the Poisson distribution, or analysis of variance. There are many excellent statistics textbooks. The following are listed as examples: Freund, J.E. (2001) Modern Elementary Statistics (tenth edition) Wonnacott, T.H., and R.J. Wonnacott (1990) Introduction to Statistics for Business and Economics (fourth edition) (or any similar title by these authors) The Review chapter of my textbook is not a substitute for a statistics course. It has the much more limited objective of providing an opportunity for revising some key statistical concepts and results that will be used time and time again in the course. Your previous studies in statistics should have covered these topics, but you may not have given them the attention that they now deserve. They are central to econometric analysis and if you have not encountered them before, you should postpone your study of econometrics and study statistics first. Learning outcomes After working through the corresponding chapter in the textbook, studying the corresponding slideshows, and doing the starred exercises in the textbook and the additional exercises in this guide, you should be able to explain what is meant by: © Christopher Dougherty, 2007 The material in this book has been adapted and developed from material originally produced for the degrees and diplomas by distance learning offered by the University of London External System ( www.londonexternal.ac.uk ) Dougherty: Introduction to Econometrics 3e Study Guide expectation • • • • • population variance unbiasedness efficiency consistency. Further, you should be able to explain why these concepts are important. The last two terms are often misunderstood by students taking an introductory econometrics course, so make sure that you aware of their precise meanings....
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 Spring '10
 öcal
 Econometrics, Normal Distribution, Variance, Probability theory, probability density function, Christopher Dougherty

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