Econometrics an der WHU Vallendar | Karteikarten & Zusammenfassungen

Lernmaterialien für Econometrics an der WHU Vallendar

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TESTE DEIN WISSEN
What minimizes the OLS estimator?
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TESTE DEIN WISSEN
The OLS estimator minimizes the average squared difference between the actual values of Yi and the prediction (predicted value) based on the estimated line.
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TESTE DEIN WISSEN
What is measured by R2?
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TESTE DEIN WISSEN
The regression R2 measures the fraction of the variance of Y that is explained by X
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TESTE DEIN WISSEN
Which variable is the dependent one?
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TESTE DEIN WISSEN
Y
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TESTE DEIN WISSEN
What is a causal effect?
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TESTE DEIN WISSEN
A causal effect is defined to be the effect measured in an ideal randomized controlled experiment.
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TESTE DEIN WISSEN
When will the F statistic be used?
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TESTE DEIN WISSEN
For a joint hypothesis, which specifies a value for two or more coefficients, that is, it imposes a restriction on two or more coefficients. In general, a joint hypothesis will involve q ≥ 1 restrictions.
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TESTE DEIN WISSEN
Is a high or a low R2 a good fit?
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high -> 1 is the perfect fit
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TESTE DEIN WISSEN
What is the consequence of an OVB?
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TESTE DEIN WISSEN
1. biased 2. inconsistent
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What is the LSA4?
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TESTE DEIN WISSEN
Homoskedasticity, the OLS has the lowest variance among estimators that are linear in Y, a result called the Gauss-Markov theorem.
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What is the dummy variable trap?
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TESTE DEIN WISSEN
The perfect multicollinearity when a constant and a set of dummy variables are mutually exclusive and exhaustive.
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What is Homoskedasticity?
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TESTE DEIN WISSEN
The variance of ui does not depend on Xi.
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What is Heteroskedasticity?
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TESTE DEIN WISSEN
The variance of ui does depend on Xi.
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Which variable is the independent one?
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TESTE DEIN WISSEN
X (also called regressor)
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Q:
What minimizes the OLS estimator?
A:
The OLS estimator minimizes the average squared difference between the actual values of Yi and the prediction (predicted value) based on the estimated line.
Q:
What is measured by R2?
A:
The regression R2 measures the fraction of the variance of Y that is explained by X
Q:
Which variable is the dependent one?
A:
Y
Q:
What is a causal effect?
A:
A causal effect is defined to be the effect measured in an ideal randomized controlled experiment.
Q:
When will the F statistic be used?
A:
For a joint hypothesis, which specifies a value for two or more coefficients, that is, it imposes a restriction on two or more coefficients. In general, a joint hypothesis will involve q ≥ 1 restrictions.
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Q:
Is a high or a low R2 a good fit?
A:
high -> 1 is the perfect fit
Q:
What is the consequence of an OVB?
A:
1. biased 2. inconsistent
Q:
What is the LSA4?
A:
Homoskedasticity, the OLS has the lowest variance among estimators that are linear in Y, a result called the Gauss-Markov theorem.
Q:
What is the dummy variable trap?
A:
The perfect multicollinearity when a constant and a set of dummy variables are mutually exclusive and exhaustive.
Q:
What is Homoskedasticity?
A:
The variance of ui does not depend on Xi.
Q:
What is Heteroskedasticity?
A:
The variance of ui does depend on Xi.
Q:
Which variable is the independent one?
A:
X (also called regressor)
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