Answer in terms of Econometrics 1. A confidence interval for ?? is calculated to be (2,...

Answer in terms of Econometrics

1. A confidence interval for ?? is calculated to be (2, 6). Is the parameter in the interval? Explain.

2. If the results of many regressions are to be reported, how do you do it?

Solutions

Expert Solution

1. B_j is an unknown population parameter. However, we estimate B_j from a random sample and use the estimated parameter, along with the standard error, to construct a confidence interval for a particular level of significance. The confidence interval, using the estimated parameter and its standard error, is constructed to find precisely the range in which the population parameter must lie. With the margin of error in the confidence interval, the population parameter, B_j, will lie in the range of the interval. How wide the interval is or how imprecise it is can be explained by the size of the standard error of the estimated B_j.

2. The following table (a hypothetical example) can help:

The rows represent all independent variables that you wish to use in the study. The columns represent the different regressions (either with different variables or by using different set of explanatory variables). Standard errors are reported in the parentheses, the sample size is noted, the R-squared is noted, and the p-values are denoted using the asteriks.

Rahul Sunny answered 1 year ago

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