The George Washington University
Department of Economics
Economics 2123 Spring 2016
Introduction to Econometrics
Syllabus
Instructor: Prof. Paul Carrillo
Time & place: Wednesdays and Fridays, 2:20pm 3:35pm, Hall of Government 104
Office hours: Fridays 12:
Econ 2123. Introduction to Econometrics
Section 83. Prof. Williams
Homework 1
Solutions
1.
In each of the following examples is the assumption of a random sample reasonable?
Why or why not?
i. Time series: X1 , X2 , . . . , Xn where X1 represents the US u
Econ/Stat 2123.83
Problem Set #7
EViews
This homework covers chapter 6 of the textbook and the related lecture notes. If there is a term
you do not recognize in the homework, you should be able to find it in the book or in the other
materials posted on Bl
Assignment 6
1.
Price elasticity (estimates) of income is .4408193, standard error is .1039461.
2.
According to beta1=0.4408193, the gasoline is a normal good as the demand for the
gas is elasticity. Normal goods have a positive income elasticity of deman
Assignment 3
Yisui Li
1.
Slope coefficient of educ on IQ is 3.487689
2.
Beta1 of log(wage) on educ is 0.0550127
3.
Beta1 head=0.0374312 Beta2 head =0.005041
4.
LHS=0.0550127
RHS=0.0374312+3.487689*0.05041=0.0550127
LHS=RHS
5.
Holding LSAT, GPA, log(libvol
George Washington University
Department of Economics
Economics 2123
R. Phillips
Assignment 6 Answers
1. The iterated Prais-Winsten estimates of the income and price elasticities are 0:4408 and
with standard errors of 0:1039 and 0:0231, respectively.
0:143
1. Make to Order is to manufacture the end goods when customers place their
orders. For example, Rolls-Royce manufactures the car according to their special
orders from their customers. Make to Stock is a strategy to produces goods
depending on the demand
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Assignment 7
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1.a) If the total sales projections for shipments is 600,000
Location
Denver
Santa Fe
Salt Lake
City
Location
Denver
Santa Fe
Salt Lake
City
Annual Fixed Costs
$5,000,000
$4,200,000
Variable Costs per Shipment
$4.65
$6.25
To
Assignment 4
Yisui Li
1.
Standard Error Ratio=0.0036084/0.0054829= 0.658118879
From text (5.0), Standard Error Ratio=(408/815)^(1/2)=0.707540456
The ratio of the latter standard error to the former is 0.707540456. The standard
error using all of the obser
Econ/Stat 2123.83
Problem Set #9
This homework covers chapter 10 of the textbook and the related lecture notes. If there is
a term you do not recognize in the homework, you should be able to find it in the book or
in the other materials posted on Blackboa
ECON 123 (TROST) QUIZ 1 SPRING 2005
Suppose an economist estimates a consumption function and obtains
the results:
c = 15 + 0.81Yd n = 19, R = .99
(4.8) (0.04)
where c is consumption, n is sample size, Y; is disposable income
and 0.81 is an estimate of
Econ 2123. Introduction to Econometrics
Sections 80/83. Prof. Williams
Homework 4
Solutions
1.
Suppose that a random sample of 200 40-year old men is selected from a population
and that these mens annual income is recorded. Suppose I am also able to obtai
Econ 2123. Introduction to Econometrics
Sections 80/83. Prof. Williams
Homework 3
Solutions
1. Law of iterated expectations
Suppose Rt is the rate of return on an investment in period t. Rt is a random variable
because it is uncertain until period t + 1.
Econ 2123. Introduction to Econometrics
Sections 80/83. Prof. Williams
Homework 2
Solutions
1.
1
Recall the sample standard deviation estimator, s = n1 n (Xi X)2 . Is this
i=1
estimator consistent if X1 , X2 , . . . , Xn is a random sample? Explain why. M
Yisui Li
Homework 9
Yisui Li
Aa.
Path
A-C-D-F-H
B-D-F-H
B-E-G-H
Expected Time (wks)
35
36
37
A.b
Node
A
B
C
D
E
F
G
H
Duration
4
10
5
15
12
4
8
7
ES
LS
0
0
4
10
10
25
22
30
Slack
2
0
6
11
10
26
22
30
2
0
2
1
0
1
0
0
Yisui Li
The critical path is B-E-G-H
B
Yisui Li
A
Set Total Cost = 60000 + 1.5Q; Total Revenue = 5Q; (Q is the number of sales) When Total
Cost = Total Revenue, the store break even -> Q=F/(p-c) (p is the average sale, c is
variable cost per unit) Q= 60,000/(5-1.5)= 17142.86 approximating to 1
Instrumental Variables Regression
Three important threats to internal validity are:
omitted variable bias from a variable that is correlated
with X but is unobserved, so cannot be included in the
regression;
simultaneous causality bias (X causes Y, Y ca
Distribution of YB1,
YBnB under simple random sampling
B
Because individuals #1 and #2 are selected at random, the
value of YB1B has no information content for YB2.B Thus:
o YB1B and YB2B are independently distributed
o YB1B and YB2B come from the same d
George Washington University
Department of Economics
Economics 2123
R. Phillips
Assignment 2
1. Show that
n
X
.xi
x/.yi
y/ D
iD1
and
n
X
.xi
x/2 D
iD1
n
X
xi yi
nx y
iD1
n
X
xi2
nx 2 :
iD1
Use the data in the following table to answer Questions 2 through
George Washington University
Department of Economics
Economics 2123
R. Phillips
Assignment 1
Questions 1 through 3 rely on the following information: Suppose the state legislators in a particular state
are concerned about auto fatalities in the state. Cur
Econ/Stat 123 Paul E. Carrillo Jan / 29
Quiz No 1
Flame: g Q?
You have twenty minutes to answer the following questions. Please, be neat, clear and concise.
Good luck.
5/ by?"
in September Seattle 5 daily high temperature has a mean of 70 0F and a standar
Econ/Stat 123 Paul E. Carrillo Feb/24
Quiz No 3
\
Name:
You have twenty minutes to answer the following questions Good luck.
1) A researcher estimates the following OLS regression using 2500 randomly selected college
graduates:
Wagehat = 12.52 + 8.12 *
April/190.016
Instructor: Paul E. Carrillo
Econ/Stat 123
Quiz No 5
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to
Name:
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You have twenty minutes to answer the following questions. Please, be neat. clear and concise.
Good luck.
wherePr(Y,=1Xi)=bg+b1Xi.
$5 5
b0+blxi+ui .
1) Consider the line
Econ/Stat 123 Paul E. Carrillo March /2
Quiz No 4
Name: 5/5
You have twenty minutes to answer the following questions. Please be neat clear and concise. In
all problems below you may need the following information. Let Z be a standard normal random
vari
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Quiz No 2
g
3/,
You have twenty minutes to answer the following questions. Please, be neat, clear and concise.
Good luck.
Name:
1. [5p] In a survey of 400 likely voters, 215 responded that they would vote for the i