ECON 3210 Lecture Notes - Lecture 11: Standardized Test
7 Jan 2018
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Document Summary
In the last lecture slides, we discussed populations, samples, and expectations, but we didn"t touch on the underlying details. Here, we take a step back and review the main concepts. The students in the project star experiment are a sample that is (more or less) randomly selected from the underlying population of all students in. The data we"ve collected consists of outcomes (test scores, denoted yi) and class sizes (which we called the treatment and denoted di). We also know other characteristics about students, like their age, etc. The index i here is important, it denotes a particular student in our sample of n students. The data we"ve collected consists of random variables, which are just numerical representations of the outcome of an experiment. Random experiment: an experiment the outcome of which cannot be predicted with certainty, even if the experiment is repeated under the same conditions. Event: a collection of outcomes of a random experiment.
