Introduction

Question 1

How do you denote coefficient estimates?

Answer 1

with a hat (^)

Question 2

How would you mathematically write testing if B1 is equal to zero?

Answer 2

H0: B1=0

Question 3

What is the null hypothesis?

Answer 3

The null hypothesis (denoted as H₀) is what you assume to be true until you have enough evidence to suggest otherwise.

Question 4

What are the main categories of economic data?

Answer 4

Cross-sectional
Time series
Repeated cross-sectional
Panel Data

Question 5

What is cross-sectional data?

Answer 5

Observations of many different entities at the same time
e.g. households, firms, consumers

Question 6

What is time series data?

Answer 6

Data consisting of observations made of the same entity over time

Question 7

What is repeated cross-sectional data?

Answer 7

A number of entities from different cross-sections over time

Question 8

What is panel data?

Answer 8

Observations from the same cross-section made of the same entities over time