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Name: Mansour Almolki ECON/MGMT 256 Fall, 2018 Quiz #2 Directions: You MAY use your book and notes to answer these questions. You also MAY work with other students in this class on this quiz. HOWEVER, if you do work with somebody else, you need to state that you did so and who you worked with in accordance with the academic honesty policy. 1 Econometrics is A. the study of how people chose to use scarce resources. B. the application of statistical techniques to economic data. C. the science of collection, organization, analysis, and interpretation of data. D. the use of summary statistics. 2 In econometrics, a population is A. a large number of observations drawn from a larger number of observations. B. typically the total number of people in a city or country, C. a subset or part of the population and it is what is used to perform statistical inference. D. the entire group of entities that we are interested in learning about. 3 A sampling distribution is A. the distribution of a sample statistic such as the sample mean. B. the normal distribution. C. constant. D. equal to the distribution of an individual in the sample. 4 Panel data are data collected A. by independent, random sampling. B. for many different individuals, countries, firms, etc. in a given time period. C. for a given individual, country, firm, etc. over many different time periods. D. for a number of individuals, countries, firms, etc. over many different time periods. 5. Publicly available data can be obtained through A. formal request and/or having the appropriate connections. B. personally conducting a survey asking people for information and recording their responses. C. the internet or through formal Freedom of Information Act (FOIA) requests from the appropriate agency D. obtaining data from your work that cannot be shared with other individuals. 6. Statistical inference is A the process of using the population to learn about the sample. B based on the calculating the population parameter. C typically only involves calculating the variance of the point estimate. the process of drawing conclusions from data that are subject to random variation D 7 When is the mean most appropriate for summarizing a data set? A. Always B. When the data set contains outliers. C. When the data set is symmetric D. When the data are skewed to the right. 8 An outlier that is much larger than the remaining values in a data set will cause the data set to be A. skewed to the left. B. skewed to the right. C. symmetric D. unskewed 30-Year Mortgage Rate New Home Sales Figure 3.1 9. relationship likely exists between 30-year mortgage The scatter diagram in figure 3.1 suggests that rates and new home sales. A. a positive linear B. a negative linear C. a quadratic D. no linear 10. The standard deviation of a distribution provides a sense of A. how far data points tend to fall from the median. B. where the central mass of the distribution lies. C. how far data points tend to fall from the mean D. whether the distribution is skewed. ECON/MGMT 256 Quiz #1 Directions: You MAY use your book and notes to answer these questions. You also MAY work with other students in this class on this quiz. HOWEVER, if you do work with somebody else, you need to state that you did so and who you worked with in accordance with the academic honesty policy. 1. An independent variable is endogenous if changes in it are related to factors in the error term. A) True B) False 2. In randomized experiments, we determine the value of the dependent variable via a random process. A) True B) False 3. What is the goal of a randomized experiment? A) To create exogeneity. B) To create endogeneity. C) To deal with problems of external validity. D) To increase sample size. 4. Which of the following is a fundamental challenge when trying to infer relationships from data? A) Exogeneity B) Endogeneity C) Correlation D) Math 5. An independent variable is endogenous if: A) It is correlated with another independent variable in the model. B) It is correlated with the error term. C) It is not correlated with the error term. D) If it is correlated with Y. 6. Assume we are trying to explain infant mortality as a function of GDP per capita in a sample of countries from around the world. Which of the following factors could most likely lead to endogeneity? A) Whether the country has been at war B) Population size of country C) Geographic size of country D) Use of proportional representation system 7. Given GPA-1.0 -0.001 SAT, + e, what is the expected GPA of someone with an SAT score of 2000? A) 1.0 B) 1.001 C) 2000 D) 3.0 8. When an independent variable is exogenous: A) It is correlated with the error term. B) It is not correlated with the error term. C) It is correlated with the slope. D) It is not correlated with the slope. 9. Suppose we are trying to understand the effect of maternal smoking on the birthweight of newborn babies. Which of the following is not a likely source of endogeneity? A) Mother's health consciousness B) Tax rates on cigarettes C) Mother's education D) Father's smoking habits 10. The error term: A) Contains all other factors that affect the dependent variable. B) Contains all other factors that affect the independent variable. C) Contains all other factors that affect the intercept. D) Is a random variable with no relation to other variables. Academic Honesty Statement: Please check the appropriate box and sign below: D I completed all work on my own [ I worked with classmates on this quiz (please write names): Signed:
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Fall 2018 Quiz #1
1. (option A) True
2. (option B) False
3. (option A) To create exogeneity.
4. (option B) Endogeneity
5. (option B) It is correlated with the error term.
6. (option A) Whe...


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