ECO220Y1 Study Guide - Final Guide: Statistical Inference, Sampling Frame, Level Of Measurement

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16 Oct 2011
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ECO220Y1 Full Course Notes
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ECO220Y1 Full Course Notes
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Variables: columns in a database; characteristics recorded about each individual or case; (what) Always consider the question why do we need this variable/what do we want to know from it . Categorical variable: names categories; answer questions about how cases fall into those categories e. g. area codes; - identifier variable: unique value for each case, for the purpose of identification (e. g. student id) Quantitative variable: measures numerical values; tells quantity; Numerical measurements of a quantity or amount. E. g. a 10% increase in price leads to a 10% decrease in quantity demanded; E. g. an increase in price tends to decrease the quantity demanded; Cross-sectional: snapshot of different units taken in the same time period; e. g. gdp 2010 for 20 countries; Time series: track something over time; e. g. canadian gdp from 200 until 2010; Panel (longitudinal): a cross-section of units where each is followed over time; e. g. gdp of 20 countries from 2000 until 2010;

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