Version A
1.(a) lnwage is most symmetrical. From descriptive statistics: (1) skewness is closer to zero (1.69
versus 0.32); (2) mean is relatively much closer to the median.
(b) 90% condence interval for population
mean wage
p
= 14:0475 T IN V (:10; 496)
Brooklyn College
Economics Department
Economics 4400w
Chun Wang
Spring 2016
Midterm 2 (May 9th)
Name (Please Print): _
Last four digits of your Student I.D.:_
Please Note:
1.
Please do not turn to next page if words are not given. Now it is time for you t
Answer key to Homework 3
1)
The reason why estimators have a sampling distribution is that
d. the values of the explanatory variable and the error term differ across samples.
2)
The slope estimator, E1, has a smaller standard error, other things equal, if
Brooklyn College
Economics Department
Economics 4400w
Chun Wang
Spring 2016
Key to Midterm 2 (May 9th)
Name (Please Print): _
Last four digits of your Student I.D.:_
Please Note:
1.
Please do not turn to next page if words are not given. Now it is time fo
Answer key to Homework 4
1. Which variable seems to be most symmetrically distributed - wage or lnwage?
lnwage is most symmetrical. From descriptive statistics: (1) skewness is closer to zero;
(2) mean is relatively much closer to the median.
2. Which var
The Least Squares Assumptions
The Least Squares Assumptions
What, in a precise sense, are the properties of the OLS
estimator? We would like it to be unbiased, and to have a small
variance. Does it? Under what conditions is it an unbiased
estimator of the