Midterm - 1. What is an unbiased estimator? How do...

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1. What is an unbiased estimator? How do econometricians measure an estimator's bias? What do econometricians mean by efficiency? What does Mean Squared Error do for us? 2. What are time-series, cross-sectional, and panel data? Does the type of data matter how we analyze the data? 3. What is the difference between standard error and standard deviation? 4. Why do econometricians use the t-statistic, rather than the z-values from a normal distribution? 5. Which equations below are linear in parameters? 6. Using the Gauss-Markov Theorem and given various assumptions are true, what is a BLUE estimator? Is the BLUE assumption important for forecasting? 7. Prove that Least Squares is an unbiased estimator, where . 8. You have a linear system of equations. What do you do in each of the following cases? If n > k, how do you proceed? If n = k, how do you proceed? If n < k, how do you proceed? where n is number of observations and k is number of parameters (including the intercept) 9. What is R
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This note was uploaded on 04/05/2012 for the course ECON 421 taught by Professor Blair during the Fall '11 term at Rutgers.

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Midterm - 1. What is an unbiased estimator? How do...

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