{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

lesson1 - intro2 - Lesson1 KafuWong2007 ECON1003 Analysis...

Info icon This preview shows pages 1–10. Sign up to view the full content.

View Full Document Right Arrow Icon
Lesson1-1  Ka-fu Wong  ©  2007 ECON1003: Analysis of Economic Data Lesson 1: Analysis of Economic Data is  difficult but intuitive
Image of page 1

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

View Full Document Right Arrow Icon
Lesson1-2  Ka-fu Wong  ©  2007 ECON1003: Analysis of Economic Data Outline Capture-Recapture experiment Estimator Simulations What is Statistics? Sampling How to estimate unemployment rate?
Image of page 2
Lesson1-3  Ka-fu Wong  ©  2007 ECON1003: Analysis of Economic Data Capture/Re-capture Capture/Re-capture Goal: 1. Illustrate that how to estimate the population size when the  cost of counting all individuals is prohibitive. 2. Illustrate how intuitive statistics could be. Statistics need not  be completely deep, murky, and mysterious.   Our common  sense can help us to negotiate our way through the course.   
Image of page 3

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

View Full Document Right Arrow Icon
Lesson1-4  Ka-fu Wong  ©  2007 ECON1003: Analysis of Economic Data Counting the stones We are interested in knowing the number of black stones in  the box. We only need to do to obtain a  reasonable estimate  of stones  in the box – allowing for errors of counting or estimation.
Image of page 4
Lesson1-5  Ka-fu Wong  ©  2007 ECON1003: Analysis of Economic Data Two examples Example #1: The box contains only a small number of stones.
Image of page 5

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

View Full Document Right Arrow Icon
Lesson1-6  Ka-fu Wong  ©  2007 ECON1003: Analysis of Economic Data Two examples Example #2: The box contains a lot of stones that will take  days to count.
Image of page 6
Lesson1-7  Ka-fu Wong  ©  2007 ECON1003: Analysis of Economic Data History and examples of  capture / recapture method Capture-recapture methods were originally developed in the  wildlife biology to monitor the census of bird, fish, and insect  populations ( counting all individuals is prohibitive ). Recently,  these methods have been utilized considerably in the areas of  disease and event monitoring.   http://www.pitt.edu/~yuc2/cr/history.htm
Image of page 7

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

View Full Document Right Arrow Icon
Lesson1-8  Ka-fu Wong  ©  2007 ECON1003: Analysis of Economic Data The fish example Estimating the number ( N ) of fish in a lake or pond.   1. C  fish is caught, tagged, and returned to the lake.   2. Later on,  R  fish are caught and checked for tags.  Say  T  of  them have tags.   3. The numbers  C R , and  T  are used to estimate the fish  population.  
Image of page 8
Lesson1-9  Ka-fu Wong  ©  2007 ECON1003: Analysis of Economic Data Stones in a box The objective is to estimate the number ( N ) of fish  (represented by black stones) in a pond. Capture one handful of fish (black stones).  Count  them and call it  C .  Mark the fish by replacing the  black stones with red stones.  Put them back into  the pond.
Image of page 9

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

View Full Document Right Arrow Icon
Image of page 10
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern