Lecture 5 Key Terms Flashcards Preview

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Flashcards in Lecture 5 Key Terms Deck (4)
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1

dummy variable

a variable equal to 1 if some statement is true and 0 if not, ie M=1 if male, M=0 if female

2

breusch pagan test

a test that detects heteroskedasticity , null is homoskedastic errors

3

weighted / generalised least squares

method of estimation where conditional variance function depends upon explanatory variable value

4

feasible wls / gls

variance function is unknown, and is approximated by a parameter function with unknown parameters that need to be estimated in a first step