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1 If students' performance in ECO 355 is really a function of their preparedness level, and concluded erroneously that, it was due to the nature of the course. What is the form of error?

Type 1 error

2 In hypothesis testing, the 'Ho' indicates that ___

no signif icance difference

3 If as a researcher, you set your study's confidence level at 90%, what is your level of siginificance?

0.1

4 An alternative method in the lest for siginificance of OLS other than the siginificance level is

probab ility value (p-value)

5 In the testing of the significance of OLS parameters, if the t-statistics value is less than the t-critical value, what is will be your decision about the 'Ho'?

accept the null hypothesis

6 In a sample regression output, if the coefficient of determination is 0.76134, what is the implication of this in an econometric model?

it shows that 76% of the out come variable is accounted for by the regressors

7 The coefficient of determination that ranges between 0 and 1 indicates ___

how the sample equation matches the data colle cted

8 In OLS estimation, when the explained sum of square equals to zero, it means that ___

the independent variable is un able to explain the variation in the outcome variable

9 if the variance of the independent variables is zero, it means that ___

the variace of the independent variables is not zero

10 All except one is not among the assumptions of the classical linear regression model (CLRM)

the disturbance term varies

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## 2017_2 TMA Solutions: ECO355 - Introduction To Econometrics

### Re: 2017_2 TMA Solutions: ECO355 - Introduction To Econometrics

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1 If Qd = 550 - 0.8(p), interpret the slope coefficient in relation to Qd

if 'p' rises by 1%, Qd drops by about 0.8 % .

2 One basic tool use by econometrician is

linear re gression

3 If Qs = 550 + 0.8(p) in 2015. What was Qs in 2015 when the price level was ?200?

710 units

4 Forecasting in econometrics is important because it ___

reveals futur e value of the dependent variable

5 Hypothesis testing in econometrics means

statistcal infe rence

6 If the R-square ranges between 0 and 1, the negativity of an adjusted R-square shows that ___

the regression equation does not fit the data gathered

7 The degree of freedom is n-k. What does 'k' signifies in this expression?

number of estimated parameters

8 F-stat is essential in the test for OLS estimator parameters when ___

an equation is multiva riate

9 If Y = α + β1X1 + β2X2 + μt, ascertain the degree of freedom (df)

n-3

10 If students' scores in ECO 355 is dependent on their level of preparation, and thinks preparation doesn't matter, which error is this?

type 2 error

Solutions2tma@gmail.com

Whatsapp: 08155572788

Whatsapp: 08155572788

1 If Qd = 550 - 0.8(p), interpret the slope coefficient in relation to Qd

if 'p' rises by 1%, Qd drops by about 0.8 % .

2 One basic tool use by econometrician is

linear re gression

3 If Qs = 550 + 0.8(p) in 2015. What was Qs in 2015 when the price level was ?200?

710 units

4 Forecasting in econometrics is important because it ___

reveals futur e value of the dependent variable

5 Hypothesis testing in econometrics means

statistcal infe rence

6 If the R-square ranges between 0 and 1, the negativity of an adjusted R-square shows that ___

the regression equation does not fit the data gathered

7 The degree of freedom is n-k. What does 'k' signifies in this expression?

number of estimated parameters

8 F-stat is essential in the test for OLS estimator parameters when ___

an equation is multiva riate

9 If Y = α + β1X1 + β2X2 + μt, ascertain the degree of freedom (df)

n-3

10 If students' scores in ECO 355 is dependent on their level of preparation, and thinks preparation doesn't matter, which error is this?

type 2 error

Solutions2tma@gmail.com

Whatsapp: 08155572788

### Re: 2017_2 TMA Solutions: ECO355 - Introduction To Econometrics

1 One of the properties of OLS in regression is ___

errors are minimized

2 The residual sum of square (RSS) is the ___

error term squared

3 A sample regression parameter ___ the value of the parameter of the ___

predicts, population

4 In a linear regression, E (X) is also known as ___

mean value of X

5 Regression in econometrics is about ___

knowing the link between v ariables

6 If the R-square ranges between 0 and 1, the negativity of an adjusted R-square shows that ___

the regression equation does not fit the data gathered

7 The degree of freedom is n-k. What does 'k' signifies in this expression?

number of estimated parameters

8 F-stat is essential in the test for OLS estimator parameters when ___

an equation is multiva riate

9 If Y = α + β1X1 + β2X2 + μt, ascertain the degree of freedom (df)

n-3

10 If students' scores in ECO 355 is dependent on their level of preparation, and thinks preparation doesn't matter, which error is this?

type 2 error

errors are minimized

2 The residual sum of square (RSS) is the ___

error term squared

3 A sample regression parameter ___ the value of the parameter of the ___

predicts, population

4 In a linear regression, E (X) is also known as ___

mean value of X

5 Regression in econometrics is about ___

knowing the link between v ariables

6 If the R-square ranges between 0 and 1, the negativity of an adjusted R-square shows that ___

the regression equation does not fit the data gathered

7 The degree of freedom is n-k. What does 'k' signifies in this expression?

number of estimated parameters

8 F-stat is essential in the test for OLS estimator parameters when ___

an equation is multiva riate

9 If Y = α + β1X1 + β2X2 + μt, ascertain the degree of freedom (df)

n-3

10 If students' scores in ECO 355 is dependent on their level of preparation, and thinks preparation doesn't matter, which error is this?

type 2 error

### Re: 2017_2 TMA Solutions: ECO355 - Introduction To Econometrics

Solutions2tma@gmail.com

Whatsapp: 08155572788

1 For an estimator to be consistent, it means it ___

conveges to true value

2 In econometrics, basic feature of a good estimator is ___

unbiasines s

3 Qd in question '5' is ___

p inelastic

4 If Qd = 550 - 0.8(p), interpret the slope coefficient in relation to Qd

if 'p' rises by 1%, Qd drops by about 0.8 % .

5 If the R-square ranges between 0 and 1, the negativity of an adjusted R-square shows that ___

the regression equation does not fit the data gathered

6 The degree of freedom is n-k. What does 'k' signifies in this expression?

number of estimated parameters

7 F-stat is essential in the test for OLS estimator parameters when ___

an equation is multiva riate

8 If Y = α + β1X1 + β2X2 + μt, ascertain the degree of freedom (df)

n-3

9 If students' scores in ECO 355 is dependent on their level of preparation, and thinks preparation doesn't matter, which error is this?

type 2 error

10 If students' performance in ECO 355 is really a function of their preparedness level, and concluded erroneously that, it was due to the nature of the course. What is the form of error?

Type 1 error

Solutions2tma@gmail.com

Whatsapp: 08155572788

Whatsapp: 08155572788

1 For an estimator to be consistent, it means it ___

conveges to true value

2 In econometrics, basic feature of a good estimator is ___

unbiasines s

3 Qd in question '5' is ___

p inelastic

4 If Qd = 550 - 0.8(p), interpret the slope coefficient in relation to Qd

if 'p' rises by 1%, Qd drops by about 0.8 % .

5 If the R-square ranges between 0 and 1, the negativity of an adjusted R-square shows that ___

the regression equation does not fit the data gathered

6 The degree of freedom is n-k. What does 'k' signifies in this expression?

number of estimated parameters

7 F-stat is essential in the test for OLS estimator parameters when ___

an equation is multiva riate

8 If Y = α + β1X1 + β2X2 + μt, ascertain the degree of freedom (df)

n-3

9 If students' scores in ECO 355 is dependent on their level of preparation, and thinks preparation doesn't matter, which error is this?

type 2 error

10 If students' performance in ECO 355 is really a function of their preparedness level, and concluded erroneously that, it was due to the nature of the course. What is the form of error?

Type 1 error

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Whatsapp: 08155572788

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