ECON 4400 Lecture Notes - Lecture 1: Panel Data, Random Variable, Conditional Expectation
17 Sep 2020
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Theconceptualframework holdingconstant or controlling causal effect idealizedexperiments conduct an experiment randomiredcontrohedexperiment thereare both a c causaleffect a treatmentgroup. Iselectedrandomly theeffecton an outcomeof a givenaction or treatment in an ideally randomiheel cartwheelexperiment causalityis not bindingfor forecasting. Experimental observational cross sectional multipleentitiesfor a singletime timeseries data singleentity at multipletimeperiody panel data multipleentities at multipletimes longitudinal data jayong observationnumber arbitrarilyassignedtoorganizedata. Probabilitydistributions outcome the mutually exclusive result of a random process probability. Samplespace the proportionof thetime that the outcome occurs the set of art possibleoutcomes event a subset of thesamplespace a set of one or more out comey discrete random variable. O l 2 continuonyranelomiariabley on a continuum of possible values probabilitydistribution the list of all possiblevalues each value will occur theyswimto 1. Pr m l or m 2 t pr c m 2 theprobability that. Cumulatineprobabilitydistribution fordiscretevariables the probability that the random variable is less than or equal to particular value a. k. a cumulativedistributionfunction c c d f.
