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hw1 - Econometrics(ECMT 463-200 Summer II 2007 Homework...

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1 Econometrics (ECMT 463-200) Summer II, 2007 Homework I (due 07/12/2007) Part I Choose the best answer of the four. 1. Which model below implies a constant elasticity between x and y ? a. y = 0 + 1 x + u b. y = 0 + 1 ln ( x ) + u c. ln ( y ) = 0 + 1 ln ( x ) + u d. ln ( y ) = 0 + 1 x + u 2. For the simple linear regression: i i i u X Y , n i ,..., 2 , 1 Which one of the following statements is NOT true for the properties of OLS statistics? 1 n i i u , it comes from the assumption E(u)=0 1 n i i i u x , it is guaranteed by the first order condition. residual sum of squares (SSR). Part II 1. Let X be a discrete random variable with values x = 0, 1, 2 and probabilities P(X = 0) = .25, P(X = 1) = .50 and P(X = 2) = 0.25, respectively.
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