ec41lecture3b

ec41lecture3b - Statistics for Economists Lecture 3 Kata...

Info iconThis preview shows pages 1–7. Sign up to view the full content.

View Full Document Right Arrow Icon
Statistics for Economists Lecture 3 Kata Bognar UCLA Probability Methods of Enumeration Permutations Combinations Statistics for Economists Lecture 3 Kata Bognar UCLA September 30, 2010
Background image of page 1

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

View Full DocumentRight Arrow Icon
Statistics for Economists Lecture 3 Kata Bognar UCLA Probability Methods of Enumeration Permutations Combinations Announcements Homework 1 is due on October 7. Today’s office hours are 1:00pm - 2:00pm
Background image of page 2
Statistics for Economists Lecture 3 Kata Bognar UCLA Probability Methods of Enumeration Permutations Combinations Last Lecture Descriptive measures Random experiment, outcomes, events
Background image of page 3

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

View Full DocumentRight Arrow Icon
Statistics for Economists Lecture 3 Kata Bognar UCLA Probability Methods of Enumeration Permutations Combinations Today’s Outline 1 Probability, probability rules 2 Methods of enumeration 3 Readings: TH, Chapter 1.1 - 1.2 Suggested readings: WS, Chapter 4.3, 4.8 W, Chapter 4.1 - 4.5 4 Readings for next class: TH, Chapter 1.3 - 1.5
Background image of page 4
Statistics for Economists Lecture 3 Kata Bognar UCLA Probability Methods of Enumeration Permutations Combinations Partitions - Examples Selecting an Econ 41 student randomly A = “a freshmen is selected” and B = “a junior is selected” A and B are mutually exclusive but not exhaustive. Flipping a coin twice A = “at least one heads” and B = “at most one heads” A and B are exhaustive but not mutually exclusive. Selecting an Econ 41 student randomly A 1 = “an econ major is selected” and A 2 = “a non-econ major is selected” A 1 and A 2 form a partition.
Background image of page 5

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

View Full DocumentRight Arrow Icon
Economists Lecture 3 Kata Bognar UCLA Probability Methods of Enumeration Permutations Combinations Probability The probability of an event measures the likelihood that the event occurs when the experiment is performed. Where do probabilities come from? Probabilities from data : if the experiment can be repeated many times or there are relevant historic data, then the relative frequency of the event can be used as the probability of the outcome. Probabilities from model : if there is a model of the experiment in which it is easy to determine probabilities, i.e. each outcome is equally likely then likelihoods from that model can be used. Subjective probability
Background image of page 6
Image of page 7
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 12/28/2010 for the course ECON 41 taught by Professor Guggenberger during the Fall '07 term at UCLA.

Page1 / 21

ec41lecture3b - Statistics for Economists Lecture 3 Kata...

This preview shows document pages 1 - 7. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online