Week 5 Terms: Statistics

Question 1

Independent Variable

Answer 1

The ‘x’ variable that causes a ‘y’ variable

Question 2

Dependent Variable

Answer 2

The ‘y’ variable that occurs due to the manipulation of the ‘x’ variable

Question 3

Regression

Answer 3

Line that we fit on a model of data to minimize the space between dots on a plot (regression line)

Question 4

Correlation Coefficient

Answer 4

Statistical measure of the strength of a linear relationship

Question 5

Standard Error

Answer 5

Coefficient (the ‘p’ value)

Question 6

P value

Answer 6

Value that leads to the conclusion if you are able to or cannot reject the null hypothesis

Question 7

Survey data

Answer 7

Individual level data gathered by a survey

Question 8

Time Series Data

Answer 8

Same unit of analysis observed multiple times

Question 9

Cross Sectional Data

Answer 9

Data observed at one point in time

Question 10

Panel Data

Answer 10

Multiple units of analysis over multiple periods of time

Question 11

Correlation vs. Causation

Answer 11

Correlation does not equal causation, but if causation is there, we have correlation

Question 12

Experimental vs. Observational Data

Question 13

Endogeneity