Econ 3640-001
Lecture Note #6
Fall 2012, Hyeon Kim
Lecture Note #6 Introduction to Inference (Chapter 6)
1. Introduction
Note that
Methods for drawing conclusions about a population from sample data are called statistical
inference.
Which Methods?
Confi
Economics 4650 Section 1
Spring, 2013
Richard Fowles
OSH 350
rfowles@gmail.com
581-4577 (581-4577 office message)
Course Support on Canvas
Introduction
This class has the potential for being one of the most rewarding classes you can take as an undergradua
Basic R
Econ 4650 R Fowles
January, 2013
Lets learn to use R a bit to enter data and do some basic analysis. If we have a very short
amount of data to enter, we could do it this way:
> mydat <- c(1, 3, 5, 0, 2)
Note that nothing happens (if we are lucky)
Zach Slagowski
Economics 4650
Assignment 2
2/2/13
1.) Hypothesize the expected sign for each of the K coefficients in your model
The model I will be using for the Boston Housing regression analysis is a linear OLS model of the
form:
MEDVi = +1X1,I + 2X2,I
Econometrics Assignment 1
Richard Fowles
January 9, 2013
For your rst exercise I want you to download a simple data le in a
comma delimited format. It is available on Canvas.
The le can be opened in Excel (or R) and contains 30 individual observations. Ma
Constrained Optimization Survival Guide
Maximize utility, minimize costs, maximize prots, maximize welfare, minimize the loss
functionthese are all typical economics problems. Indeed, Lionel Robbins dened economics as the study of the allocation of scarce
1. What is the MRS of a consumer with the utility function U(x,y) = 2xy ?!
2. Karl has a utility function of U(x,y) = 2x + y, and income of M = 10 and he faces prices Px = Py =1.
Find his optimal consumption bundle via any method you like.
3. Anna consume
Intro:WhatIsStatistics?
Career statistics
Batting average
.342
Home runs
714
Hits
2,873
Runs batted in
2,217
Winloss record
9446
Earned run average 2.28
2
3
4
5
6
7
8
Statistical techniques are employed in almost every phase of life.
Surveys are designed
Ch.1:Examining
Distributions
KeyConcepts
In a study, we collect informationdatafrom individuals. Individuals
can be people, animals, plants, or any object of interest.
A variable is any characteristic of an individual. A variable varies
among individuals.
Moore-212007
T-2
pbs
November 20, 2007
13:52
TABLES
Probability
Table entry for z is the
area under the
standard normal curve
to the left of z.
z
TABLE A Standard normal probabilities
. .
z
.00
.01
.02
.03
.04
.05
.06
.07
.08
.09
3.4
3.3
3.2
3.1
3.0
2.9
2
Ch.8:InferenceforProportions
1. Inferences for a single proportion
Many studies collect data on categorical variables, such as race or
occupation of a person, the make of a car, etc.
The parameters of interest in these settings are population
proportions.
Ch.7:InferenceforDistributions
Sweetening colas
Cola manufacturers want to test how much the sweetness of a
new cola drink is affected by storage. The sweetness loss due
to storage was evaluated by 10 professional tasters (by
comparing the sweetness befor
Ch.6:IntroductiontoInference
Overview of Inference
Methods for drawing conclusions about a population from sample
data are called statistical inference.
Methods
Confidence Intervals - estimating a value of a population
parameter
Tests of significance -
Ch.5:ProbabilityTheory
1. General Probability Rules
Reminder of general rules for probability (from Chapter 4)
Two requirements for a legitimate assignment of probabilities
1.
0 ( A)
P
1
2.
P ( S ) = 1; S=sample space
Complement rule: P ( Ac ) = ( A)
1P
Ch.4:Probability
andSamplingDistributions
2
1. Randomness
Terminology
- A phenomenon is random if individual outcomes are uncertain,
but there is nonetheless a regular distribution of outcomes in a large
number of repetitions.
- The probability of any ou
Ch.3:ProducingData
Observation and Experiment
Observational study: Record data on individuals without
attempting to influence the responses.
Example: Watch the behavior of consumers looking at store
displays, or the interaction between managers and employ
Ch.2:ExaminingRelationships
KeyConcepts
Most statistical studies involve more than one variable in which we are
usually interested in the relationships between those variables.
Specifically, were wondering if some of the variables explain or even
cause ch
Compare and contrast the mainstream/neoclassical microeconomics theory we
cover in class throughout the semester with the real world micro (the
supplementary textbook should help). Figure out and talk about the similarities
and differences between the "ma
ECON 3620: Mathematics for Economics
Instructor: Iris Buder
Email: iris.buder@gmail.com or through Canvas
Phone Number: 251-654-1370
Meeting Time: Thursday 6:00-9:00 pm in OSH 238
Spring Semester 2013
Office Hours: By Appointment
Prerequisites: College Al
Homework Assignment One
ECON 3620
1. Solve for the value of x:
a)
b)
c)
(1/6)x + (1/3)x = 20
(1/7)x (1/5)x = 15
(1/8)x (1/16)x = 10
Solve for the value of x and y:
2.
a)
5x + 2y = 3
-x + 1 4y = 4
b)
2x - 2y = 8
-2x 4y = 4
Solve the following for the value