Mathematics
- What is Econometrics, according to Studenmund.
- Explain the following linear equation: Price = 40.0 + 0.138(1600) = 260.8
- What is a stochastic error term.
- What are the four assumptions of linear regression.
- What does a multivariate regression coefficient indicate.
- What is R-squared.
- Provide an example of an econometric model.
- What is a Dummy variable and its impact on the intercept and slope of the line.
- Explain heteroskedasticity.
- Explain generally the Gauss-Markov Theorem.
- Explain generally hypothesis testing, including Ho, Ha.
- What is meant by a one-tailed and two-tailed test.
- Define Type I and Type II Errors.
- What is the level of significance.
- What is meant by the quote, “The coefficient is statistically significant at the 5% level”