120PS1 - Problem Set 1 - Econometrics 120A Due Monday Oct...

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Unformatted text preview: Problem Set 1 - Econometrics 120A Due Monday Oct 11 1. The file GDPC1.xls contains quarterly growth numbers for the US economy between the 1947 and 2007. Download this file from the class WebCT. The file contains a column with the level of GDP in Real Billions of Dollars, and a column with GDP growth, which can be turned into percentages by multiplying by 100. We want to understand the performance of the US economy over the last 60 years. (NOTE: For this question you may find the Excel handout at WebCT helpful). (a) Calculate the mean and median of the distribution of GDP growth. (b) What do you infer about skewness from the calculations in (a)? (c) Calculate the Variance and Mean Squared Deviation of GDP growth. Why are these numbers similar to each other? Which one do you think we should use? (d) What does the Variance tell you about the growth of the US economy that the mean and median do not? (e) Present a relative frequency graph of the series (you decide the grouping). 2. Paul Samuelson, 1970 Nobel Laureate in Economics, was originally a Physics undergrad. It is often said that when he switched from Physics to Economics he increased the Average IQ of both physicists and economists. How is this possible? 3. (a) 2-16 (page 44), (b) 2-22 (page 51) Note 1 yard = 3 feet, (c) 2-28 (page 62) 1 ...
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This note was uploaded on 12/05/2010 for the course ECON 120A taught by Professor M.abajian during the Spring '10 term at San Diego.

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