Basics

Question 1

Our significance level is the risk of committing…

Answer 1

a Type I error (alpha)

Question 2

What are the characteristics of cross section data?

Answer 2

n objects or subjects, measured at the same time (cases 1,2 and 3)

Question 3

What are the characteristics of time series data?

Answer 3

one object or subject measured during t successive time periods (cases 4 and 5)

Question 4

What are the characteristics of panel data?

Answer 4

n objects or subjects measured during t successive time periods (combination of cross section and time series - case 6)

Question 5

What 2 measurements do qualitative data consist of?

Answer 5

1) Nominal (red white blue)
2) Ordinal (small - medium - large)

Question 6

What 2 measurements do quantitative data consist of?

Answer 6

1) Interval (degrees celsius 20-22 / 30-2)
2) Ratio (income)

Question 7

For Quantitative variables, we make use of _______ Statistics

Answer 7

Descriptive Statistics