Question: When we say that a variable is relevant or irrelevant, what do we mean?

When we say that a variable is "relevant" or "irrelevant," what do we mean?

Step by Step Solution

★★★★★

3.34 Rating (160 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

The relevance of a variable depends on the th... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

849-M-E-E-A (316).docx

120 KBs Word File

Students Have Also Explored These Related Econometric Questions!

Q:

Explain exactly what we mean when we say that a sample of size n makes us 99 percent confident that x is within E units of .

Q:

a. What do we mean when we say that a process is in a state of statistical control? b. What should you do when a process is not in control? c. What should you do when a process appears to be in...

Q:

State with brief reasons whether the following statements are true (T), false (F), or uncertain (U). a. The adjusted and unadjusted R2s are identical only when the unadjusted R2 is equal to 1. b. The...

Q:

need project report on all Padhuka's - Students' Handbook on Strategic Cost Management & Performance Evaluation - CA Final 10.3.3 Relevance of Other Costs Nature of Cost Variable Overheads Relevant...

Q:

Costs can be categorized in various ways, including the following: Fixed versus variable costs Relevant versus irrelevant costs Direct versus indirect Discuss the following in your main Discussion...

Q:

Assignment Details Costs can be categorized in various ways, including the following: Fixed versus variable costs Relevant versus irrelevant costs Direct versus indirect Discuss the following in your...

Q:

1)Reading 11: What is an expected monetary value? How does the EMV contrast to the monetary value? Why is it important for a decision maker to ignore irrelevant data? How sensitive is any decision to...

Q:

PLEASE COMPLETE NO LATER THAN 10/28 @3:30PM Each question(1,2,& 3) must be a minimum of 200 words. Please EXPLAIN answers in FULL detail and make answers knowledgeable based off the attached reading,...

Q:

Login Required user id password Login Forgotten your password? ECONOMICS 2123B - ECONOMETRICS II LECTURE 5: SPECIFICATION OF REGRESSION VARIABLES George Orlov Department of Economics Western...

Q:

SUMMARY this article for about 2 pages with single spacing. Thank you. ECONOMETRICS: MEASUREMENT I N ECONOMICS1 I As the first incumbent of a new Chair in this University, I thought that in this...

Q:

Multiple Choice Questions: A local bagel shop produces two products: bagels (B) and croissants (C). Each bagel requires 6 ounces of flour, 1 gram of yeast, and 2 tablespoons of sugar. A croissant...

Q:

The authors Web page (www.rotman.utoronto.ca/~hull/data) contains daily closing prices for crude oil futures contract and gold futures contract. You are required to download the data and answer the...

Q:

Which of the following factors makes a person less attractive as a borrower? The borrower offers sufficient collateral The borrower has a great credit score The borrower has lived at the same place...

Q:

Problem 3.26 Let the random variable Y have the distribution function F(y) defined by: F(y)=0,y

Q:

(i) In the wage equation in Example 14.4, explain why dummy variables for occupation might be important omitted variables for estimating the union wage premium. (ii) If every man in the sample stayed...

Q:

Add the interaction term unionit t to the equation estimated in Table 14.2 to see if wage growth depends on union status. Estimate the equation by random and fixed effects and compare the results.

Q:

Use the state-level data on murder rates and executions in MURDER.RAW for the following exercise. (i) Consider the unobserved effects model where 6, simply denotes different year intercepts and a is...

Q:

I am struggling with this part of the review 2. A total of 23 Celebration High School students were admitted to the University of Florida. Of those students, 7 were offered athletic scholarships. The...

Q:

A professor gives out a survey to students in each of their classes where they can rate the teacher on a scale from1 to5, with5 being the best. The professor wants to determine whether the ratings...

Q:

2. (2 points) For an educational study, a volunteer must place in the middle 70% on test. If the mean for the population is 130 and the standard deviation is 18. find the two limits (upper and lower)...