Answered: 1.In econometrics, a sample is Select…

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter4: Estimating Demand

Section: Chapter Questions

Problem 1E

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1.In econometrics, a sample is

Select one:

a. the entire group of entities that we are interested in learning about.

b. only one observation drawn from the population.

c. a subset or part of the population and it is what is used to perform statistical inference.

d. the primary thing that econometricians are interested in.

2. The estimated sample regression function is determined by

Select one:

a. minimizing the sum of squared residuals.

b. minimizing the least absolute deviations from the mean.

c. minimizing the total deviations from the mean.

d. maximizing the sum of squared residuals.

3. Econometrics is

Select one:

a. the science of collection, organization, analysis, and interpretation of data.

b. the use of summary statistics.

c. the application of statistical techniques to economic data.

d. the study of how people chose to use scarce resources.

4. Simple linear regression analysis determines

Select one:

a. the true value of the population slope coefficient.

b. the linear relationship between two random variables.

c. the linear relationship between many different random variables.

d. the true value of the population intercept.

5. In econometrics, a population is

Select one:

a. a large number of observations drawn from a larger number of observations.

b. the entire group of entities that we are interested in learning about.

c. a subset or part of the population and it is what is used to perform statistical inference.

d. typically the total number of people in a city or country.

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