Lecture 3

Question 1

What are the three properties we look for in estimators

Answer 1

Question 2

What does unbiasedness mean?

Answer 2

Question 3

What is the definition of efficiency?

Answer 3

Question 4

What is the Mean Squared Error?

Answer 4

Question 5

What is the definition of consistency?

Answer 5

Question 6

What are the three main approaches to parameter estimation?

Answer 6

Question 7

What is the law of large numbers?

Answer 7

Question 8

What is the central limit theorem (CLT)?

Answer 8

Question 9

What is the definition of a confidence interval?

Answer 9

Question 10

What is the definition of the 95% CI?

Answer 10

Question 11

What is defintion of the Null and Alternative hypothesis?

Answer 11

Question 12

What is the Type 1 and Type 2 errors?

Answer 12

Question 13

Draw Type 1 and 2 errors graphically

Answer 13

Question 14

What are the 3 ways to do hypothesis testing?

Answer 14

Question 15

What are the 5 steps of hypothesis testing with Critical values?

Answer 15

Question 16

What are the 4 steps for hypothesis testing with a T statistic?

Answer 16

Question 17

How do you do hypothesis testing with confidence intervals?

Answer 17

Question 18

How do you do hypothesis testing with p-values?

Answer 18