Questions:
Question 1. If the absolute value of your calculated t-statistic exceeds the critical value from the standard normal distribution, you can reject the null hypothesis.
safely assume that your regression results are significant.
reject the assumption that the error terms are homoscedastic.
conclude that most of the actual values are very close to the regression line.
Question 2. The intercept in the multiple regression model
should be excluded if one explanatory variable has negative values.
determines the height of the regression line.
should be excluded because the population regression function does not go through the origin.
is statistically significant if it is larger than 1.96.
Question 3.The following types of statistical inference are used throughout econometrics, with the exception of
confidence intervals.
hypothesis testing.
calibration.
estimation.
Question 4. The critical value of a two-sided t-test computed from a large sample
is 1.64 if the significance level of the test is 5%.
cannot be calculated unless you know the degrees of freedom.
is 1.96 if the significance level of the test is 5%.
is the same as the p-value.
Question 5. Degree of freedom is the number of independent observations available to compute an estimate, e.g. the sample mean or the sample variance.
True
False
Question 6.If you wanted to test, using a 5% significance level, whether or not a specific slope coefficient is equal to one, then you should
subtract 1 from the estimated coefficient, divide the difference by the standard error, and check if the resulting ratio is larger than 1.96.
add and subtract 1.96 from the slope and check if that interval includes 1.
see if the slope coefficient is between 0.95 and 1.05.
check if the adjusted R2 is close to 1.
Question 7. The theoretical justification for OLS is provided by the Gauss-Markov theorem.
True
False
Question 8. An estimator is
an estimate.
a formula that gives an efficient guess of the true population value.
a random variable.
a nonrandom number.
Question 9. The general answer to the question of choosing the scale of the variables is
dependent on your whim.
to make the regression results easy to read and to interpret.
to ensure that the regression coefficients always lie between -1 and 1.
irrelevant because regardless of the scale of the variable, the regression coefficient is unaffected.
Question 10. A 95% confidence set for two or more coefficients is a set that contain
the sample values of these coefficients in 95% of randomly drawn samples.
integer values only.
the same values as the 95% confidence intervals constructed for the coefficients.
the population values of these coefficients in 95% of randomly drawn samples.