ECO220Y5 Study Guide - Midterm Guide: Descriptive Statistics, Econometrics, Panel Data
Document Summary
Tests: topic 1 to topic 5 (5 tests), drop the lowest test, 40% in total. Exam is worth 35% of final grade. + exam is split into two sections, each worth 50% => section b: answer any two questions (multiple parts) Tutorial questions are very good practice for exam questions. Statistics: the science of collecting, organizing, presenting, analyzing, and interpreting data to assist in making effective decisions. Descriptive statistics: descriptive statistics are used to summarise information which would otherwise be too complex. Descriptive analysis asks questions that are more observational and attempts to determine if causation exists. It is descriptive statistics if we calculate the percentage growth from one decade to the next. It"s not be descriptive statistics if we used stat to estimate the population. =>because these statistics are not being used to summarize past populations but to estimate future populations.
