Econ 140 Midterm first Exam Questions and Answers (Solved Papers) causal effect - Correct Answers ✅the effect on an outcome of a given action or treatment as measured in an ideal randomized controlled experiment experimental data - Correct Answers ✅comes from experiments designed to evaluate a treatment or policy or to investigate a casual effect cross-sectional data - Correct Answers ✅data on different entities for a single time period observational data - Correct Answers ✅data obtained by observing actual behavior outside an experimental setting panel data/longitudinal data - Correct Answers ✅data for multiple entities in which each entity is obsessed at 2 or more sample space - Correct Answers ✅set of all possible outcomes event - Correct Answers ✅subset of sample space; set of one or more outcomes probability distribution of a discrete r.v. - Correct Answers ✅list of all possible values of the variable and the probability that each value will occur 1 / 2
Econ 140 Midterm first Exam Questions and Answers (Solved Papers) cumulative probabilty distribution - Correct Answers ✅probability that the r.v. is less than or equal to a particular value Bernoulli r.v. - Correct Answers ✅discrete r.v. when the r.v.is binary and outcomes are 0 or 1 probability density function (p.d.f.) - Correct Answers ✅area under the probability density func. between any 2 pts.is the probability that the r.v. falls between these 2 pts.expected value of r.v. Y (denoted E(Y))/expectation of Y/mean of Y - Correct Answers ✅LR avg. value of the r.v. over many repeated trials or occurrences; computed as weighted avg. of the possible outcomes of that r.v., where the weights are the probabilities of that outcome variance (denoted var(Y)) - Correct Answers ✅expected value of the square of the deviations of Y from its mean; var(Y) = E[(Y-µY)ˆ2] what do the SD and variance measure? - Correct Answers ✅dispersion or "spread" of a probability distribution
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