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1

What is stochastic data?

random data

2

What is the name of analysis with one explanatory and one dependent variable? With more then one explanatory?

Two-Variable regression analysis
Multi-Variable regression analysis

3

What is correlation analysis?

Analysis where the objective is to measure the degree of the association between two variables

4

What is cross-section data?

Data collected at the same time - denoted with i

5

What is time-series data

Data collected over a period of time, denoted with t

6

What is a common assumption used for empirical work on time series data

The underlying time series is stationary -0 mean and variance do not change

7

What affect must be countered with cross-sectional data

The scale effect (heteroscedacity?)

8

What is Pooled Data

Data is both time series and cross sectional, ie cross section observations overtime.

9

What is Pnael/Longtitudanal/Micropanal data?

A sepcial type of pooled data where the cross-section unit (familiy or whatever) is the same family, tracked over every year (or time unit)

10

What is balanced / unbalanced panel data

Where the number of observations in a panel is equal, and not equal for all panels respectively

11

What types of variable data is there?

Ratio scale, Interval Scale, Ordinal Scale, Nominal Scale

12

Define Ratio Scale

Variables where the ratio and distance between them are meaningful, where once can be twice the other, ect

13

Define Interval Scale

Where the difference between variables is meaningful, but no their ratio

14

Define Ordinal Scale

Where the variables difference & ratio have no meaning, but there is a natural order (one can be said to be more then the other)

15

Define Nominal Scale

The differences, ratio and order of the variables are meaningless.