2009-HE204B_Tute1 - 3 For the following Table calculate the...

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NANYANG TECHNOLOGICAL UNIVERSITY HE204B:Principles of Econometrics Tutorial -1 1 . Explain the meaning of (a) An unbiased estimator, (b) A minimum variance estimator, (c) An efficient estimator, (d) A linear estimator (c) A best linear unbiased estimator 2. Consider two estimators: one which is biased and has a smaller variance, the other which is unbiased and has a larger variance. Sketch the sampling distributions and the location of the population parameter for this situation. Discuss conditions under which you may prefer to use the first estimator over the second one.
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Unformatted text preview: 3 . For the following Table, calculate the covariance and correlation coefficient between Y and X. Why covariance is not a good measure of association than the correlation? Y 16 15 12 20 17 12 8 14 16 15 X 145 123 102 220 193 143 119 121 157 147 4. The joint probability distribution of X and Y is given by the following Table. Find the (a) marginal distribution of X and Y, (b) conditional distribution of Y given X (c) E(Y) and E(Y|X) Y X 1 2 3 1 0.03 0.06 0.06 2 0.02 0.04 0.04 3 0.09 0.18 0.18 4 0.06 0.12 0.12...
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