week2 - ECONOMETRICS (ECON346) 1. Distribution The...

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ECONOMETRICS (ECON346) 1. Distribution The distribution of a data set is a table, graph, or formula that provides the values of the observation and how often they occur (probability). 1.1 Distribution Shapes The shape of a distribution can be described in terms of symmetry & kurtosis With a symmetrical distribution a vertical line can be drawn through the middle so that each side is a mirror image of the other. With a skewed distribution the scores tend to pile up at one end and tail off at the other. If the tail is to the right the distribution is said to be positively skewed, if the tail is to the left it is negatively skewed. Symmetric Bell-shaped Right Skewed (Positive Skewed) Left Skewed (Negative Skewed) Bimodal 1.2 1.2 1.2 Population Distribution Population Distribution Population Distribution in Real World in Real World in Real World In statistics, we face many normal distributions, but it is very hard to see them in real world or mostly not known. This is many challenges that we need to think about.
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ECONOMETRICS (ECON346) Income Distribution (Poverty, inequality and the distribution of income inthe Group of 20 by Xavier Sala-i-Martin and Sanket Mohapatra (2003) (http://www.g20.org/Documents/poverty_and_inequality_g20.pdf)
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ECONOMETRICS (ECON346) Cook County Income Distribution
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ECONOMETRICS (ECON346) 2. SAMPLING Population : The entire group of items that interests us. Defined by the characteristics Sample : The part of population that actually observed. Why sampling To draw inferences about the population since it is often impractical to scrutinize the entire population. It is too expensive to apply to the entire population. Biased Sample
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This note was uploaded on 02/16/2011 for the course BUS 355 taught by Professor White during the Spring '11 term at UChicago.

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week2 - ECONOMETRICS (ECON346) 1. Distribution The...

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