ECON 245 Lecture Notes - Lecture 1: Time Series, Panel Data
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=(cid:2869) =(cid:1876)(cid:2869)+(cid:1876)(cid:2870)+(cid:1876)(cid:2871) = 5+8+14 = 27: (cid:1855)=(cid:4666)(cid:1855)+(cid:1855)+(cid:1855)+ +(cid:1855)(cid:4667)=(cid:1855) ; if c=5 and n =10, (cid:1855)=(cid:883)(cid:882)(cid:4666)(cid:887)(cid:4667)=(cid:887)(cid:882) Science of gathering, presenting, analyzing, and interpreting data. (collect data, analyze data, interpret date, present findings) Descriptive graphical or numerical summaries of data. Inferential making a decision based on data. Population the whole, a collection of all persons, objects, or items under study. Census gathering data from the entire population. Sample gathering data on a subset of the population (use information about the sample to infer about the population) Parameter descriptive measure of the population (usually represented by greek letters) Statistic descriptive measure of a sample (usually represented by roman letters) x denotes population standard deviation sample mean sample variance denotes denotes population variance. 2 s 2 denotes s denotes sample standard deviation. Variables and data: variable characteristic of any entity being studied that is capable of taking different values. Ex- stock price, miles driven to school: measurement variables produce a measurement.
