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ex01_answer_econ120b_w08 - Economics 120B Professor Yongil...

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Economics 120B Name: _________________________ Professor Yongil Jeon Winter 2008 (February 11) Student ID#: _________________________ Answer to Exam #1 – Winter 2008: Econometrics 120B 1-a. (4 points) To provide quantitative answers to policy questions a. it is typically sufficient to use common sense. b. you should interview the policy makers involved. c. you should examine empirical evidence. d. is typically impossible since policy questions are not quantifiable. Answer : c 1-b. (4 points) The accompanying graph 2 4 6 8 10 12 65 70 75 80 85 90 95 U.S. Unemployment Rate in % Year is an example of a. experimental data. b. cross-sectional data. c. a time series. d. longitudinal data. Answer : c

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2 Answer to EXAM #1, ECON 120B, Winter 2008 2 1-c. (4 points) Which of the following statements is correct? a. SST = SSE + SSR b. SSE = SSR + SST c. SSE > SST d. R 2 = 1 – ( SSE / SST ) Answer : a 1-d. (4 points) The OLS estimator is derived by a. connecting the Y i corresponding to the lowest X i observation with the Y i corresponding to the highest X i observation. b. making sure that the standard error of the regression equals the standard error of the slope estimator. c. minimizing the sum of absolute residuals.
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ex01_answer_econ120b_w08 - Economics 120B Professor Yongil...

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