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Econ 338/ envr 305 clicker questions

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Econ 338/envr 305clicker questions

Statistics – Question Set #9 (from Chapter 10)

- why the actual observed values of y are not exactly on but fluctuate near a line.
- the magnitude of the noise in the data.
- the three parameters in the model.
- the trend in y as x increases.
- the expected change in y brought about by a unit increase in x.

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- slope
- error term
- y-intercept
- deterministic part
- trend

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- the sum of the errors
- the mean of the errors
- the square of the errors
- the sum of the squared errors
- the mean of the squared errors

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