General Flashcards
1
Q
p-value < 0.01
A
reject null at 1% significance level
2
Q
confidence interval
A
[coeff - cv x se, coeff + cv x se]
3
Q
predicted standard deviation
A
sq rt of RSS/n-k
4
Q
normal distribution
A
68% of values lie within 1 standard deviation of mean. 16% lie above and below
skewness coeff of 0
kurtosis coeff of 3
median = mean
5
Q
kurtosis
A
how much of the variance of Y arises from extreme values. higher = outliers more likely
6
Q
F-stat
A
(ESS/k-1) / (RSS/n-k)
7
Q
non-linearity of log function means
A
average log wage does NOT equal log of average wage
8
Q
can’t use OLS if there is
A
endogeneity
9
Q
t-stat
A
coefficient/se if > then reject null
10
Q
omitted variable bias
A
one of the variable could be correlated wth something in the error term the also affects variable of interest
