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Assignment On Basic Econometrics UECO/UMEC: 605

Econometrics is the analysis of economic data using statistical methods. The document discusses: 1) The stages of analyzing an econometric model, including deriving the ordinary least squares estimates for a simple regression model. 2) Alternative functional forms like semi-log, double-log, and reciprocal regression equations. 3) Interpreting the results of a regression where consumption is modeled based on income, including the intercept, slope, t-values, and R-squared. 4) The role of the error term in regression models.

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62 views

Assignment On Basic Econometrics UECO/UMEC: 605

Econometrics is the analysis of economic data using statistical methods. The document discusses: 1) The stages of analyzing an econometric model, including deriving the ordinary least squares estimates for a simple regression model. 2) Alternative functional forms like semi-log, double-log, and reciprocal regression equations. 3) Interpreting the results of a regression where consumption is modeled based on income, including the intercept, slope, t-values, and R-squared. 4) The role of the error term in regression models.

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Assignment on Basic Econometrics

UECO/UMEC: 605
1. What is Econometrics? Describe various stages of analysis of an econometric model
2. What is a Sample Regression Model? Derive the OLS estimates𝛼̂ 𝑎𝑛𝑑 𝛽̂ for simple
regression model.
3. Discuss the alternative functional forms of Semi–log, Double–log and reciprocal
forms of regression equations.
4. Consider the following regression equation where consumption expenditure (Y) is regressed on
income (X). Interpret the results. The values in brackets are t values. (Level of significance is 5%)

𝑌̂ = 201.25 + 0.82∗ 𝑋 R2 = 0.78


(1.98) (2.87)
5. Discuss the role of an error term in regression models.

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