Question 1a using examples explain the difference between, Ask an Expert

Economics

Question 1:

(a) Using examples, explain the difference between time-series, cross-sectional, and panel data.

(b) Formulate a simple linear equation, and carefully explain the following terms:

(i) Explanatory variable
(ii) Dependent variable
(iii) R-square
(iv) P-value

Question 2:

(a) Explain the term heteroscedasticity, emphasising on the problems that it represents for Ordinary Least Square (OLS) estimation techniques.

(b) Explain how the Generalised Least Square (GLS) can be used to correct for the problem of heteroscedasticity.

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9585635

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question the us economy slowed down sharply in the latter

Question: The US economy slowed down sharply in the latter half of 2000, and the actual recession started early in 2001. Monetary policy eased sharply throughout 2001, and for the first half of the year, fiscal policy di ...

Question discuss how do the monetary model forecasts

Question: Discuss how do the monetary model forecasts exchange rates. Explain with the use of figures to show the impacts of money supply increase on exchange rate under floating rates against under fixed rates in the Mu ...

Question jones and smith have a contract that will produce

Question: Jones and Smith have a contract that will produce $100 in benefits for each of them if they both carry out their duties under it. If Jones breaches the contract, he will create $140 in benefits for himself, and ...

Question consider how the following situations would affect

Question: Consider how the following situations would affect the economy's monetary system. a. Suppose that the people on Yap discovered an easy way to make limestone wheels. How would this development affect the usefuln ...

Question in the case of a binding price ceiling why is the

Question: In the case of a binding price ceiling, why is the price below the equilibrium price? Isn't it possible for suppliers to increase price (to hit the demand curve) at the quantity traded without losing consumers? ...

Question 1- how did the political reaction to government

Question: 1- How did the political reaction to government funding for the Solana project differ from the reaction to more conventional government spending projects such as roads and schools? What does the case tell us ab ...

Question consider the industry in which you work or one

Question: Consider the industry in which you work, or one about which you have some knowledge. What are the costs and benefits associated with attempting to bar entry of other firms into this industry? How would a firm e ...

Question 1 consider the rothschild-stiglitz adverse

Question: 1. Consider the Rothschild-Stiglitz adverse selection model that we discussed in the class. Suppose a competitive insurance company proposes an insurance policy that provides full insurance to all individuals, ...

Question from september 2000 to march 2001 the sampp 500

Question: From September 2000 to March 2001, the S&P 500 index fell 27% and the US economy headed into a recession. From March 2002 to July 2002, the index fell another 27%, yet this time the recovery that was already un ...

Question using a supply-and-demand graph and assuming

Question: Using a supply-and-demand graph and assuming competitive markets, show and explain the effect on equilibrium price and quantity of the following: A technological change that reduces the cost of producing X-rays ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Microeconomics Expert