Eco 205: Econometrics
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Transcript of Eco 205: Econometrics
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Regression with a Single Regressor: Hypothesis Tests and Confidence Intervals(SW Chapter 5)
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Hypothesis Testing and the Standard Error of
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Hypothesis Testing
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Formula for SE( )
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4 ways to conduct Hypothesis Tests
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Example: Wage vs. Age
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Example: Wage vs. Age
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Regression when X is Binary
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Interpretation when X is binary
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Heteroskedasticity and Homoskedasticity
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Homoskedasticity
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Heteroskedasticity
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Comparison of Group Means
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Example from the Current Population Survey
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The class size data
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So far we have (without saying so) assumed that u might be heteroskedastic.
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What if the errors are in fact homoskedastic?
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Two formulas for the se( )
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Robust standard errors in STATA
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Further Questions
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The Extended LS Assumptions
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Efficiency of OLS
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t-critical values