Topic: Econometrics

Order Description Question 1: Economic theory provides a basis for which variables are relevant and should be included in an econometric model. But econometrics provides tools to estimate ____________________ which tells us ________________________________ a. a model, the functional form that should be used. b. causality, why it happens that way c. a parameter, how much or to what degree things change d. variables, the probability of a specific outcome. Queston 2: Which of the following statements about the standard normal distribution is NOT true? a. µ=0 , s2 = 1 b. it can be used to find probability intervals for any normal distribution c. it is symmetric d. it is derived from repeated sampling of naturally occurring phenomena