ProblemSet1

ProblemSet1 - Professor Mumford Econ 360 - Fall 2010...

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Unformatted text preview: Professor Mumford Econ 360 - Fall 2010 mumford@purdue.edu Problem Set 1 Due at the beginning of class on Tuesday, August 31 True/False (20 points) Please write the entire word. No explanations are required. 1. If { a 1 ,a 2 ,...,a n } are constants and { X 1 ,X 2 ,...,X n } are random variables then: E n X i =1 a i X i ! = n X i =1 a i E ( X i ) 2. For a random variable X , let = E ( X ). The variance of X can be expressed as: V ar ( X ) = (E ( X )) 2- 2 3. An estimator, W , of is an unbiased estimator if E ( W ) = for all possible values of . 4. The central limit theorem states that the average from a random sample for any pop- ulation (with finite variance) has an asymptotic standard normal distribution. 5. Inferring causality is only possible if a researcher conducts an appropriate experiment. 1 Multiple Choice Questions (20 points) 6. The idea of holding all else equal is known as (a) ceteris paribus (b) correlation (c) causal effect (d) independence 7. If our dataset has one observation for every state for the year 2000, then our dataset is7....
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ProblemSet1 - Professor Mumford Econ 360 - Fall 2010...

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