2 - Lecture 1 Part B

2 - Lecture 1 Part B - Introduction to Econometrics Econ...

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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....
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This note was uploaded on 09/29/2011 for the course ECON 322 taught by Professor Francisco during the Summer '07 term at Rutgers.

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2 - Lecture 1 Part B - Introduction to Econometrics Econ...

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