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Econometrics

Bias estimator

An estimator whose expectation, or sampling mean, is different from the population value it is supposed to be estimating

Econometrics

Bias

The difference between the expected value of an estimator and the population value that the estimator is supposed to be estimating

Econometrics

BLUE

Best Linear Unbiased Estimator

Econometrics

Ceteris Paribus

Change one variable others fixed

Econometrics

Goodness of Fit

The R-squared (the coefficient of determination)

R(square) = SSE/SST = 1 – SSR/SST

R(square) = SSE/SST = 1 – SSR/SST

Econometrics

SSR

Residual sum of squares

Econometrics

SSE

Explained sum of squares

Sum (y^- y-) square

Sum (y^- y-) square

Econometrics

SST

Total sum of squares

Sum (yi – y-) square

Sum (yi – y-) square

Econometrics

Residuals

u^ is the difference between yi and its fitted value

Econometrics

Fitted Values

The intercept (B^0) and slope estimates (B^1)

Econometrics

PRF

Population Regression Function

E(y|x)=B^+B^x

E(y|x)=B^+B^x

Econometrics

SRF

Sample Regression Function

y^=B^+B^x

y^=B^+B^x

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