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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?

Quality of the teachers, Student background, Quality o Signup and view all the answers

What does the Gauss-Markov theorem state about the OLS estimators in the simple linear regression model?

The OLS estimators are unbiased and have the minimum variance among all linear unbiased estimators. Signup and view all the answers

Which of the following is the correct definition of the sum of squares error (SSE)?

The sum of the squared differences between the observed values and the predicted values in regression analysis. Signup and view all the answers

What does the sum of squares regression (SSR) measure?

The variation in the dependent variable that is explained by the regression model. Signup and view all the answers

What does the sum of squares total (SST) represent?

The total variation in the dependent variable. Signup and view all the answers

What does the sum of squares error (SSE) help us understand?

The unexplained variation in the dependent variable. Signup and view all the answers

What does the decomposition of variability into SST, SSR, and SSE help us assess?

A model's goodness of fit. Signup and view all the answers