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Basics Flashcards

(7 cards)

1
Q

Our significance level is the risk of committing…

A

a Type I error (alpha)

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2
Q

What are the characteristics of cross section data?

A

n objects or subjects, measured at the same time (cases 1,2 and 3)

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3
Q

What are the characteristics of time series data?

A

one object or subject measured during t successive time periods (cases 4 and 5)

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4
Q

What are the characteristics of panel data?

A

n objects or subjects measured during t successive time periods (combination of cross section and time series - case 6)

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5
Q

What 2 measurements do qualitative data consist of?

A

1) Nominal (red white blue)
2) Ordinal (small - medium - large)

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6
Q

What 2 measurements do quantitative data consist of?

A

1) Interval (degrees celsius 20-22 / 30-2)
2) Ratio (income)

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7
Q

For Quantitative variables, we make use of _______ Statistics

A

Descriptive Statistics

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