Question 1: A relation known with certainty is called a:
1. statistical relation
2. multiple regression
3. deterministic relation
4. simple regression
Question 2: Statistical analysis of economic relations focuses on the estimation and interpretation of:
1. Sample statistic
2. population parameters
3. summary measures
4. descriptive measures
Question 3: Relative dispersion is measured by the population:
1. range
2. standard deviation
3. variance
4. coefficient of variation
Question 4: A multiple regression model involves two or more:
1. Y variables
2. X variables
3. intercept points
4. data points
Question 5: Generally speaking, population parameters are not known and mustbe estimated by the sample:
1. Mean
2. Mode
3. Median
4. Statistics
Question 6: High correlation among X variables leads to:
1. Multicollinearity
2. High R(squared)
3. Low R (squared)
4. High t statistics
Question 7: Statistics are:
1. Descriptive measures for a sample
2. summary measures for the population
3. pre-determined variables
4. endogenous variables
Question 8: When no scatter about the regression line exists:
1. SEE = 0
2. R(Squared)=0
3. t=0
4. F=0
Question 9: The "middle" observation is the;
1. median
2. average
3. mean
4. mode
Question 10: If demand increases while supply decreases for a particular good:
1. its equilibrium price will increase while the uantity of the good produced and sold could increase, decrease, or remain constant.
2. the quantity of the good produced and sold will decrease while its equilibrium price could increase, decrease, or remain constant.
3. the quantity of the good produced and sold will increase while its equilibrium price could increase, decrease, or remain constant.
4. its equalibrium price will decrease while the quantity of the good produced and sold could increase, decrease, or remain constant.