An estimator is A) an estimate. C) a random variable. D) a ...

1. An estimator is A) an estimate. B) a formula that gives an efficient guess of the true population value. C) a random variable. D) a nonrandom number.

Correct answer(s): C

2. An estimate is A) efficient if it has the smallest variance possible. B) a nonrandom number. C) unbiased if its expected value equals the population value. D) another word for estimator.

Correct answer(s): B

3. The critical value of a two-sided t-test computed from a large sample A) is 1.64 if the significance level of the test is 5%. B) cannot be calculated unless you know the degrees of freedom. C) is 1.96 if the significance level of the test is 5%. D) is the same as the p-value.

Correct answer(s): C

4. The size of the test A) is the probability of committing a type I error. B) is the same as the sample size. C) is always equal to (1-the power of test). D) can be greater than 1 in extreme examples.

Correct answer(s): A

5. A type I error is A) always the same as (1-type II) error. B) the error you make when rejecting the null hypothesis when it is true. C) the error you make when rejecting the alternative hypothesis when it is true. D) always 5%.

Correct answer(s): B

6. A type II error A) is typically smaller than the type I error. B) is the error you make when choosing type II or type I. C) is the error you make when not rejecting the null hypothesis when it is false.

D) cannot be calculated when the alternative hypothesis contains an "=". Correct answer(s): C

7. The power of the test is A) dependent on whether you calculate a t or a statistic. B) one minus the probability of committing a type I error. C) a subjective view taken by the econometrician dependent on the situation. D) one minus the probability of committing a type II error.

Correct answer(s): D

8. The following types of statistical inference are used throughout econometrics, with the exception of A) confidence intervals. B) hypothesis testing. C) calibration. D) estimation. Correct answer(s): C

9. Among all unbiased estimators that are weighted averages of Y_1, ... Y_N , Y_bar is A) the only consistent estimator of miu_Y B) the most efficient estimator of miu_Y C) a number which, by definition, cannot have a variance. D) the most unbiased estimator of miu_Y.

Correct answer(s): B

10. A large p-value implies A) rejection of the null hypothesis B) a large t-statistic. C) a large Y_bar^act D) that the observed value Y_bar^act is consistent with the null hypothesis.

Correct answer(s): D

Done

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