Econometrics Quiz

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Questions and Answers

Which equation represents the simple linear regression model in the given text?

  • $E(TestScore | STR) = b_0 + b_{STR} \cdot STR + u$
  • $E(TestScore | STR) = b_0 + b_{STR} \cdot STR$ (correct)
  • $E(TestScore | STR) = b_0 + b_{STR} \cdot STR + \epsilon$
  • $E(TestScore | STR) = b_0 + b_{STR} \cdot STR + e$

Which term represents the slope of the straight line in the simple linear regression model?

  • $STR$
  • $TestScore$
  • $b_{STR}$ (correct)
  • $b_0$

What does the conditional mean operator indicate in the context of the simple linear regression model?

  • The relationship is expected to hold for all values of STR.
  • The relationship is expected to hold, on average, given the values of STR. (correct)
  • The relationship is expected to hold, on average, regardless of the values of STR.
  • The relationship is expected to hold, on average, for a specific value of STR.

What are the factors that the average test score in a district depends on, in addition to the student-teacher ratio?

<p>Quality of the teachers, Student background, Quality o (A)</p>
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What does the Gauss-Markov theorem state about the OLS estimators in the simple linear regression model?

<p>The OLS estimators are unbiased and have the minimum variance among all linear unbiased estimators. (A)</p>
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Which of the following is the correct definition of the sum of squares error (SSE)?

<p>The sum of the squared differences between the observed values and the predicted values in regression analysis. (B)</p>
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What does the sum of squares regression (SSR) measure?

<p>The variation in the dependent variable that is explained by the regression model. (C)</p>
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What does the sum of squares total (SST) represent?

<p>The total variation in the dependent variable. (C)</p>
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What does the sum of squares error (SSE) help us understand?

<p>The unexplained variation in the dependent variable. (A)</p>
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What does the decomposition of variability into SST, SSR, and SSE help us assess?

<p>A model's goodness of fit. (B)</p>
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