Midterm 1

Question 1

What is the difference between panel and pooled data?

Answer 1

Panel data used the same subjects across time where in pooled data the subjects are different

Question 2

An event with a relative frequency of 0.1 is:

Answer 2

is unlikely to occur

Question 3

A data set that consists of a sample of individuals, households, firms, cities, states, countries, or a variety of other units, taken at a given point in time, is called a(n)_______.?

Answer 3

cross-sectional data

Question 4

True or false: The chronological ordering of observations in a time series conveys potentially important information

Answer 4

true

Question 5

Data on the birth rate, death rate and population growth rate in developing countries over a 10-year period represents what kind of data?

Answer 5

panel data

Question 6

A man is one step away from falling off the edge of a cliff. The probability that he takes one step forwards is 1/3 and the probability he takes a step back is 2/3. What is the probability that he falls off the edge of the cliff? Answer with two decimal digits. (#)

Answer 6

0.50