This preview shows pages 1–9. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.
View Full DocumentThis preview has intentionally blurred sections. Sign up to view the full version.
View Full DocumentThis preview has intentionally blurred sections. Sign up to view the full version.
View Full DocumentThis preview has intentionally blurred sections. Sign up to view the full version.
View Full Document
Unformatted text preview: Introduction to Econometrics Econ 322; Summer 2011 Ruby HENRY rhenry@econ.rutgers.edu June 1, 2011 Ruby HENRY () Introduction to Econometrics June 1, 2011 1 / 28 Random Variables A random variable is any variable whose value is unknown now but will become known at some later date. Ruby HENRY () Introduction to Econometrics June 1, 2011 2 / 28 Random Variables A random variable is any variable whose value is unknown now but will become known at some later date. The values that a random variable can take is governed by a random process (sometimes called a data generating process DGP). Ruby HENRY () Introduction to Econometrics June 1, 2011 2 / 28 Random Variables A random variable is any variable whose value is unknown now but will become known at some later date. The values that a random variable can take is governed by a random process (sometimes called a data generating process DGP). The properties of a random variable can be described by its sample space and its probability distribution over the sample space. Ruby HENRY () Introduction to Econometrics June 1, 2011 2 / 28 Random Variables A random variable is any variable whose value is unknown now but will become known at some later date. The values that a random variable can take is governed by a random process (sometimes called a data generating process DGP). The properties of a random variable can be described by its sample space and its probability distribution over the sample space. has a set of possible outcomes ( sample space ) Ruby HENRY () Introduction to Econometrics June 1, 2011 2 / 28 Random Variables A random variable is any variable whose value is unknown now but will become known at some later date. The values that a random variable can take is governed by a random process (sometimes called a data generating process DGP). The properties of a random variable can be described by its sample space and its probability distribution over the sample space. has a set of possible outcomes ( sample space ) the outcomes can be discrete or continuous Ruby HENRY () Introduction to Econometrics June 1, 2011 2 / 28 Random Variables A random variable is any variable whose value is unknown now but will become known at some later date. The values that a random variable can take is governed by a random process (sometimes called a data generating process DGP). The properties of a random variable can be described by its sample space and its probability distribution over the sample space. has a set of possible outcomes ( sample space ) the outcomes can be discrete or continuous e.g. toss of a coin, height of next student to walk in the room Ruby HENRY () Introduction to Econometrics June 1, 2011 2 / 28 Random Variables A random variable is any variable whose value is unknown now but will become known at some later date....
View
Full
Document
This note was uploaded on 09/29/2011 for the course ECON 322 taught by Professor Francisco during the Summer '07 term at Rutgers.
 Summer '07
 Francisco
 Econometrics

Click to edit the document details