Flashcards in Topic 1 Deck (15)

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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)

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