Microsoft PowerPoint - Lecture 17 2010 for pdf

Microsoft PowerPoint - Lecture 17 2010 for pdf - 1 IV....

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Unformatted text preview: 1 IV. Multiple Regression . A. Introduction B. CRM C. Estimation D. Interpretation of Parameter Estimates E. Properties of Estimators. F. Estimator for 2 and Variances for G. Inferences in Multiple Regression H. Goodness of Fit I. Analysis of Variance s Elasticities another interpretation of results. Elasticity the % change in quantity due to a 1% change in price, or income. From micro: For the estimated regression model: E. Properties of OLS Estimators 1. Linear: The OLS estimators are still linear estimators. 2. Unbiased: If CRMAs # 1 3 are correct, the OLS estimators are unbiased estimators. 3. Minimum Variance: If CRMAs # 1 5 are correct, the OLS estimators are the Best Linear Unbiased Estimators. (Gauss-Markov Theorem) Draw a graph illustrating properties 2 & 3. 2 F. Estimator for 2 and Variances for 1. Recall: E[u 2 ] = 2 ; an average of squared disturbances....
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This note was uploaded on 12/08/2011 for the course ECON 312 taught by Professor Daniellass during the Winter '10 term at UMass (Amherst).

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Microsoft PowerPoint - Lecture 17 2010 for pdf - 1 IV....

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