BUAN 6312 Exam 1 with complete solutions.
In an F test, J is the number of what in the model? Restrictions In an F test, K is the number of what in the unrestricted model? Coefficients including the intercept Type I error Rejecting H0 when true Type II error Not rejecting H0 when false Reject H0 if p is ______ than alpha less If the chosen model is correct, the plotted residuals should look completely what? random What is it called when a relevant variable explanatory variable is left out and causes bias in other variables? Omitted variable bias Irrelevant variables increase what two things for other variables? SE and p values When a set of variables have exact collinearity is included in an econometric model, the coefficient estimates are what? Undefined What is not used to evaluate model specifications? R^2 What is eliminated by including an additional variable in a regression? Omitted variable bias Running functions where each explanatory variable is estimated as a function of the other explanatory variables can help detect what? Collinearity How does omitting a relevant variable affect the other coefficients? They are biased in either direction The coefficients of collinear variables in an econometric model have larger what? Standard error An interaction term is a variable that is what? Product of 2 explanatory variables How can you estimate a non-linear function using least squares? Transform such as squaring, cubing some variables What is the p value in an F test the probability of? All coefficients other than the intercept are zero What does R^2 measure? Proportion of variation in y explained by variation in x What number is subtracted from N in a multiple regression to find the degrees of freedom? Number of coeffic
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buan 6312 exam 1 with complete solutions
