ECO220Y1 Chapter Notes -Econometrics, Regression Analysis, Panel Data
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ECO220Y1 Full Course Notes
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Econometrics: the science and art of using economic theory and statistical techniques to analyze economic data. They must have a precise quantitative understanding of the likely benefits. Will smaller classes actually result in better performance or will it have no effect: data gathered from 420 california school districts in 1999 showed that students in smaller classes performed better than those in bigger classes. I. e. smaller classes in a region will typically imply the area is wealthy meaning students have more opportunities to learn outside of school. Multiple regression analysis must be used to isolate the effects of changes in class size from changes in other factors. These data must be examined more closely to see if there is a difference in the probability of being denied for otherwise identical applicants and, if so, whether the difference is large/small. To quantify the effect of race on the chance of obtaining a mortgage, other applicant characteristics besides race must be held constant.
