sample final exam-1

sample final exam-1 - ECONOMETRICS 388 FINAL EXAM Sample...

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ECONOMETRICS 388 FINAL EXAM Sample Exam Point Distribution: I. A. 10 @ 3 B. 8 @ 5 70 II. A. 15; B. 15; C. 15; D. 15; E. 10; 70 III. A. 10 B. 10 C. 10 D. 4 @ 5 50 ___ 190
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I. BASIC CONCEPTS A. Carefully define the following terms: 1. "Useful" Theorem 2. Exogenous Variable 3. Binary Variable 4. Structural Equations 5. White Test 6. Two-Stage Least Squares 7. Adjusted R 2 8. Polynomial Distributed Lag Model 9. Durbin Watson test 10. Likelihood Ratio Test
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2 B. Indicate whether each of the following statements is true or false and defend your answer. 1. If a calculated "t statistic" is greater than 1, then we should reject the associated hypothesis. 2. Measurement error is rarely mentioned in economic analysis because it can be included in the equation residual and doesn't result in biased or inconsistent estimators. 3. If the calculated value of the Durbin-Watson test statistic is between 1.5 and 2.5, then autocorrelation of the random disturbances is not a problem. 4. If the calculated F statistic associated with a regression model is significant at the " level of significance, then at least one nonintercept "t statistic" will be significant at the same level. 5. In multiple regression models, a high correlation among the regressors (X's) in the sample is referred to as multicollinearity and implies that the least squares estimators are biased. 6. Many methods of estimating linear regression models are available. In selecting between alternative estimation procedures, we should use the estimator associated with the largest R 2 .
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3 7. Least squares techniques applied to economic time series usually yield biased estimates because many economic time series are autocorrelated.
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This note was uploaded on 02/29/2012 for the course ECON 388 taught by Professor Mcdonald,j during the Winter '08 term at BYU.

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sample final exam-1 - ECONOMETRICS 388 FINAL EXAM Sample...

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